#TrumpBitcoinEmpire

Since President Trump's election in November, the price of Bitcoin has risen sharply. On the day of the 2024 election, one Bitcoin was trading below $75,000. Last week, Bitcoin reached an all-time high of over $123,000.

This is not a coincidence. Trump has systematically used presidential power to promote Bitcoin and other cryptocurrencies.

On Monday, Trump Media & Technology Group (TMTG), a public company controlled by Trump, announced the purchase of Bitcoin worth $2 billion. Trump is transforming a struggling media company into a Bitcoin holding company. TMTG, the parent company of Truth Social, lost over $185 million on revenue of just $3.6 million in 2024.

TMTG is mimicking the strategy initiated by Microstrategy. The company, now known as Strategy, officially sells software and other tech services, but is actually engaged in buying Bitcoins. (Strategy and similar companies specializing in Bitcoin are valued much higher than their actual Bitcoin assets for somewhat unclear reasons.)