🔥 Trump Media Bets $2B on Bitcoin—Stock Rockets Higher! 🚀💰
Monday, Trump Media's stock price (DJT) rose 3% after rising 5% intraday to $19,25. This rise followed the company's $2 billion Bitcoin investment.
The media firm, which includes President Donald Trump's social media platform Truth Social, streaming service Truth+, and financial services brand Truth.Fi, said the current bitcoin acquisitions coincide with a May goal to develop a Bitcoin treasury.
According to Trump Media, these Bitcoin holdings now make up two-thirds of its $3 billion in assets, indicating a greater financial commitment to the biggest cryptocurrency.
Trump Media CEO and president Devin Nunes reiterated the company's commitment to its approach. He said these assets provide the company's “financial independence” and prevent financial institution prejudice.
Nunes also discussed introducing a utility coin in the Truth Social ecosystem to boost user engagement and generate additional income.
Trump Media has invested $300 million in a Bitcoin-related “options acquisition strategy” in addition to Bitcoin.
Regulatory Push by Trump
Publicly listed digital asset firms have seen price gains and increased acceptance due to Trump's backing for a more favorable regulatory environment in Washington, D.C.
President Trump signed legislation that creates the first government framework for dollar-backed stablecoins, which is anticipated to boost adoption under the GENIUS Act.
World Liberty Financial, a crypto firm funded by Trump and his sons, launched USD1, a US dollar-pegged stablecoin, alongside BitGo.
Trump Media wants to raise $2.5 billion to grow its Bitcoin treasury. Michal Saylor's pioneering work at Strategy (formerly MicroStrategy), which became a Bitcoin powerhouse in 2020, inspired this public equity and debt issuing model.
The stock has rallied, but Trump Media has been unpredictable. Since introducing its Bitcoin treasury plan in late May, the stock has plunged 25% and 45% year-to-date.
#TrumpBitcoinEmpire #BTCvsETH #CryptoMarket4T #GENIUSAct $BTC $ETH
