#TrumpBitcoinEmpire Since the election of President Trump in November, the price of bitcoin has skyrocketed. On the day of the 2024 election, one bitcoin traded for under $75,000. Last week, bitcoin reached an all-time high of over $123,000. (On Monday, it was around $118,000).

This is not a coincidence. Trump has systematically used the power of the presidency to promote bitcoin and other cryptocurrencies.

On Monday, Trump Media & Technology Group (TMTG), a publicly traded company with Trump as its majority shareholder, announced the acquisition of $2 billion in bitcoin. Trump is turning a struggling media company into a bitcoin holding company. TMTG, the parent company of Truth Social, lost over $185 million with just $3.6 million in revenue in 2024.

TMTG is mimicking a pioneering strategy from Microstrategy. The company, now known as Strategy, officially sells software and other tech services, but is actually focused on buying bitcoin. (Strategy and other similar bitcoin-focused companies are valued well above their actual bitcoin holdings, for reasons that are not entirely clear).

If the price of bitcoin continues to rise, the move could be very beneficial for TMTG and Trump. The difference is that TMTG doesn't just have to wait for the price of bitcoin to go up. Trump has the authority to take actions that boost the price of bitcoin. If recent history is any guide, that's exactly what Trump will do.