Trump’s Media Company Reveals Holding $2B in Bitcoin Following Crypto Bills Passing US House

Trump Media’s Bitcoin Investments

Trump Media and Technology Group, the parent company of President Donald Trump’s Truth Social platform, announced that it currently holds around $2 billion in Bitcoin and Bitcoin-related securities. This revelation comes shortly after significant cryptocurrency bills, supported by Trump, were passed in the US House of Representatives. In May, Trump Media revealed an investment strategy that involved allocating $1.5 billion from stock sales and $1 billion from convertible senior secured bonds to purchase Bitcoin. The company also stated its intention to continue acquiring Bitcoin and related assets based on market conditions.

Crypto Bills and Market Impact

The announcement from Trump Media arrived just four days after the US House passed three bills during what was dubbed “crypto week” by Republicans and Trump. Following the news of these bills passing, the price of Bitcoin briefly spiked to over $120,000 before settling at $118,436. Trump signed the GENIUS stablecoin bill into law on Friday, with two other bills still pending Senate approval. These bills are related to crypto market structure and central bank digital currencies.

Impact on Trump's Crypto Ventures

The signing of the GENIUS bill could have positive implications for Trump’s family-backed crypto business, World Liberty Financial, which has its own stablecoin. The price of the company’s governance token, WLFI, saw a significant increase in value over the past week as it became tradable. Additionally, the price of Official Trump (TRUMP), a memecoin associated with the president, rose by 10% to $11.55. Trump has been actively involved in the crypto space, with his executive order in March outlining plans for a “Strategic Bitcoin Reserve” and a “Digital Asset Stockpile” in the US.

The recent developments surrounding Trump’s media company and his crypto ventures have sparked discussions around potential conflicts of interest and insider trading concerns. With the crypto market continuing to evolve and gain mainstream attention, the intersection of politics and digital assets is becoming increasingly complex.