#TrumpBitcoinEmpire Since the election of President Trump in November, the price of Bitcoin has surged. On the day of the 2024 elections, 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 acquisition of Bitcoins worth $2 billion. Trump is turning a struggling media company into a Bitcoin holding company. TMTG, the parent company of Truth Social, lost over $185 million on revenue of only $3.6 million in 2024.

TMTG is imitating a 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 Bitcoins are valued much higher than their actual Bitcoin assets for somewhat unclear reasons.)