Trump is making big news again! His company actually converted 2.4 billion dollars into Bitcoin?

Trump Media Technology Group (TMTG) has done something crazy: by issuing stocks and bonds, it raised 2.4 billion dollars, directly betting it all on Bitcoin, becoming one of the companies with the most Bitcoin holdings among publicly traded companies in the U.S. This amount accounts for 77% of the company's current assets, and Bitcoin has made its debut on TMTG's balance sheet, alongside cash and short-term investments.

Why such extravagance?

• Riding the Bitcoin wave: This year, Bitcoin's price skyrocketed to 110,000 dollars per coin, and TMTG wants to follow MicroStrategy's example by hoarding Bitcoin to boost its market value, turning the company into a “Bitcoin concept stock” to attract investors.

• Dual benefits of politics and business: Trump claims he wants to make America the “crypto capital,” and the company's high-profile purchase of Bitcoin can both echo this policy and rally votes and raise funds through the crypto community. His son even revealed that they once considered mortgaging Mar-a-Lago to raise 2 billion for buying coins, highlighting the depth of their obsession.

• Ambitions of financial transformation: The social media platform Truth Social has long been operating at a loss, and this time, they are transforming into the financial sector, planning to launch a Bitcoin ETF and trading platform, attempting to evolve from a “content company” into a “crypto financial empire.”

There are even crazier maneuvers behind this: while the Trump family is having the company buy Bitcoin, they are also issuing “Trump Coins” to raise money. Last year, NFT digital trading cards sold for over 20 million dollars, and this year they are hosting “Trump Coin dinners” for the wealthy to dine at high prices, raising suspicions of money laundering.

Summary: This move represents both Trump's “political speculation” on cryptocurrency and a big gamble. If he wins, the company's market value could soar alongside Bitcoin; if he loses, not only would the 2.4 billion dollars go down the drain, but Trump's political capital could also be at stake.

Do you think this move by Trump is genius or madness? Let's discuss in the comments! Share with friends in the crypto circle, like and follow to see how the subsequent plot twists!