Important collection restaurants
The parent company of social media platform Truth Social, Trump Media, said that about two-thirds of his liquid power issue consists of crypto to become the fourth largest corporate BTC Treasury.
Trump Media and Technology Group Corp [DJT] announced On July 21 it collected about $ 2 billion in Bitcoin and related assets. The press release said that,
“The company has collected around $ 2 billion in bitcoin and bitcoin-related effects as part of the previously announced Bitcoin-Treasury strategy.”
The previously announced Bitcoin Treasury strategy came in May. Trump Media, who owns the social media platform Truth Social, unveiled in May Their plan To pick up $ 2.5 billion to acquire BTC.
Their goal was to create a reserve of cryptocurrency.
Trump’s importance in this company is now $ 2.3 billion, and he is the biggest investor.
The company has also announced that his Bitcoin Holdings includes two -thirds of Trump Media’s liquid assets. DJT shares opened no less than 9% during the trade session of the day. At close by, This figure was up to 3.1%.
Apart from this, approximately $ 300 million would be assigned to an option acquisition strategy for Bitcoin-related effects. The CEO and President of Trump Media, Devin Nunes, said, said
“We are rigorous implementation of our audience announced strategy and fulfilling our Bitcoin Treasury plan. This assets help to guarantee the financial freedom of our company, help us protect against discrimination by financial institutions and will create synergies with the utility of social ecosphere.”
The utility tucking, if and when introduced, will undoubtedly add even more to the wealth of the president on paper.
Some comments about X have put forward the subject of self -enrichment by the president, who wondered how it was not a conflict of interest.
Bitcoin and Digital Activa family’s embrace
Once a crypto -skeptic, Trump has gone in the opposite direction since the presidential election. He ran and won as the pro-Crypto candidate and has signed an executive order to set up a Bitcoin strategic reserve.
The “Crypto week” from 14 to 18 July saw the American house of representatives votes on several crypto accounts.
Last Friday, on July 18, Trump de Genius Act signed by law, which establishes a federal framework for Stablecoin -Emitents.
The Trump family owns a large part of the financial world of world report by a business entity. It is the Defi and Crypto company that, according to the launch in September last September last September, earned more than $ 500 million, according to Reuters.
The official Trump [TRUMP] Memecoin has also filled the president’s wallet.