#TrumpBitcoinEmpire Trump Empire's Bitcoin Expansion is Rapid. Here's What’s Happening [6][7]:
- *Trump's $2 Billion Bet on Bitcoin*: Trump's Media and Technology Group, the parent company of Truth Social, has invested $2 billion in Bitcoin and Bitcoin-related securities. This move makes Bitcoin account for two-thirds of its $3 billion balance sheet.
- *Crypto-Friendly Legislation*: Trump's push for control over cryptocurrencies is supported by recent legislation. Trump signed the GENIUS Act, providing a federal framework for dollar-backed stablecoins like his USD1, created in collaboration with World Liberty Financial and BitGo.
- *Plans for Token Use*: Trump's Media plans to introduce a token for use within its ecosystem, including Truth Social, Truth+, and Truth.Fi. CEO Devin Nunes states that this strategy is about financial freedom and protection from institutional bias.
- *Market Reaction*: Trump's Media stock rose 6% after the announcement but has fallen 25% since May when the strategy was first revealed. Investors seem surprised but cautious.
