Trump Media Reports $2 Billion in Bitcoin and Crypto Assets

Trump Media and Technology Group disclosed it holds approximately $2 billion in bitcoin and crypto-related assets, constituting nearly two-thirds of its liquid funds. The company's stock rose by 9% upon the announcement, later stabilizing with a 4% increase.

Trump's stake in the company, traded as DJT, is valued at around $2.3 billion. His wealth has significantly increased, with crypto now representing a major portion of his financial portfolio, as reported by Forbes.

Initially skeptical, Trump has become a proponent of digital assets, having signed an executive order to establish a national bitcoin reserve and appointed a “crypto czar.” Recently, he endorsed several crypto bills including the GENIUS Act, which was enacted last week.

In addition to Trump Media, he is involved in other crypto projects such as World Liberty Financial, generating about $500 million since its launch in September. This venture benefits a trust controlled by Trump Jr., where Trump is the sole beneficiary.

Critics highlight potential ethical issues regarding Trump's deep involvement in crypto and its influence on political decisions, raising concerns among advocacy groups and lawmakers.

Trump Media, previously recognized for its Truth Social app, is now pivoting towards financial services and crypto. It launched Truth.Fi earlier this year, secured substantial crypto investments, partnered with Crypto.com, and raised over $2.3 billion to expand its bitcoin holdings.

The news followed a peak in bitcoin prices, exceeding $120,000. CEO Devin Nunes stated this strategy aims to secure the company's financial independence and support the launch of a utility token linked to Truth Social.