Trump Media’s Crypto Venture: A Glimpse into Bitcoin Investment and the Future of Blockchain Technology

Trump Media and Technology was recently seen acquiring a massive amount of the world’s largest cryptocurrency. As per an official announcement, the company acquired $2 billion in Bitcoin and Bitcoin-related securities, with additional funds earmarked for Bitcoin options.

Market Response and Investment Strategy

The investment in cryptocurrency was received positively by the market, with the company’s stock rising by 7.2%. This increased its value by 9%, pushing it to almost $20 over the past week. As a result, approximately two-thirds of the company’s nearly $3 billion in liquid assets were put into Bitcoin. Trump Media president and CEO Devin Nunes emphasized their strategy of ensuring the company’s financial freedom through Bitcoin assets.

Changes in Ownership

Originally, Trump owned the majority of shares in Trump Media, but he transferred them in December to a trust before he became president, resulting in a lower ownership percentage due to the issuance of new Bitcoin-acquiring stock.

Shift from Real Estate to Crypto

Once known for his real estate deals, Trump has now shifted his focus to crypto. This change became apparent when he dived into crypto just after the bankruptcy of crypto exchange FTX. According to Fortune and Forbes, Trump’s crypto businesses now account for half of his business’s value.

Trump Media’s Crypto Initiatives

Trump Media has launched various initiatives in the crypto space, including NFT collections and a Bitcoin conference. Additionally, Trump’s sons Eric and Donald Jr. launched their own decentralized finance application, World Liberty Financial.

Trump Media’s Future in Crypto

With the successful launch of Truth Social, a part of Trump Media, the company has ventured into crypto ETFs for Bitcoin, Ethereum, and others. There are also hints at launching its own cryptocurrency and digital wallet.

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