Trump Media and Technology Group said it owned about $2 billion worth of assets, including the Truth Social platform that is controlled by US President Donald Trump. “Bitcoin and Bitcoin-related securities” Only a couple of days ago, Trump’s cryptocurrency-related bills were passed by Congress.
Trump Media posted a message on its website Monday. said Bitcoins (BTCInvestment strategy incorporating ) announced in MayThe company allocated $1 billion in convertible senior secured bond proceeds and $1.5 billion of stock sales to buy the cryptocurrency.
The company stated that it will continue its acquisitions. “Bitcoin and Bitcoin-related assets” Depending on the market condition.
This notice was sent four days after the US House of Representatives passed three bills What Republicans and Trump have branded as “crypto week.” Price of Bitcoin briefly surged The week’s total had risen to over $120,000, but it has now dropped to just $118.436 as of the publication date.
Trump signed the GENIUS stablecoin bill The president signed the bill into law Friday. However, the two other bills related to central bank digital currency and crypto market structure will require approval by the Senate.
Related: Trump’s crypto ventures have added $620M to his net worth — Report
World Liberty Financial’s stablecoin may be benefited by the signing of the GENIUS Bill. WLFI’s price has doubled over the past seven days, as investors have bought the token. voted to make it tradable.
According to data from Nansen.aiPrice of President’s Memecoin Official TrumpTRUMPThe price of a ) increased by about 10%, to $10.45 from the previous week. As of June 2016, one of the Trump-related companies owned a 20% share in World Liberty, which the President effectively controlled. controls 80% of his memecoin supply Two companies.
Does the White House continue to explore options for a national Bitcoin reserve?
Trump will be inaugurated in March signed an executive order to establish a “Strategic Bitcoin Reserve” The a “Digital Asset Stockpile” US. The majority of experts at the time thought that this stockpile was crypto taken by US authorities. However, Trump’s advisors said later they weren’t. looking into alternativesThe government has revalued its gold certificates.
Magazine: Trump’s crypto ventures raise conflict of interest, insider trading questions
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Source: cointelegraph.com
