Trump Media and Technology Group (TMTG), the company which owns US president Donald Trump’s Truth Social platform said that it had about $2 billion. “Bitcoin and Bitcoin-related securities” Just a few weeks after Trump’s significant crypto bills advanced in Congress.
Trump Media posted a message on its website Monday. said Bitcoins (BTC( ) in an investment strategy announced in MayIt allocated $1.5billion from the sale of stocks and $1billion from senior convertible secured bonds for purchasing cryptocurrency.
The company stated that it would keep acquiring media companies. “Bitcoin and Bitcoin-related assets” According to the current market situation.
This notice was sent four days after the US House of Representatives passed three bills What Republicans and Trump called “the Trump Era” “crypto week.” Price of Bitcoin briefly surged As of this publication, the amount had dropped from $120,000 to $118.436.
Trump signed the GENIUS stablecoin bill On Friday, President Trump signed into law two of the bills relating to digital currency and the central bank’s crypto markets. But the Senate must first approve the remaining two measures.
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. The company’s governance coin, WLFI has nearly doubled its price in the last week as the holders of the token have increased their holdings. voted to make it tradable.
According to the data collected by Nansen.aiPrice of President’s Memecoin Official TrumpTRUMPThe price of a ) increased by about 10%, to $10.45 from the previous week. In June, one company tied to Trump’s family owned 20% of World Liberty. The president was effectively the owner of that stake. controls 80% of his memecoin supply Two companies.
What options is the White House considering for a Bitcoin national reserve?
Trump’s March 2019 Schedule signed an executive order to establish a “Strategic Bitcoin Reserve” The a “Digital Asset Stockpile” US. Most experts believed that it would be crypto confiscated by US authorities. But Trump’s advisers later stated they were not. looking into alternativesThe government has revalued its gold certificates.
Magazine: Trump’s crypto ventures raise conflict of interest, insider trading questions
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: cointelegraph.com
