Trump Media Acquires $2 Billion in Bitcoin as Crypto Bills Advance

WASHINGTON – Days after significant cryptocurrency legislation advocated by Donald Trump was advanced by the U.S. House of Representatives, his company stated it holds approximately $2 billion in “Bitcoin and Bitcoin-related securities.”

Trump Media and Technology Group, owner of the former president’s Truth Social platform, announced Monday that it integrated Bitcoin (BTC) into its investment strategy, initiated in May. This strategy involved channeling $1.5 billion from stock proceeds and $1 billion from convertible senior secured bonds into the cryptocurrency.

The company indicated it will continue incorporating “Bitcoin and Bitcoin-related assets” based on market conditions.

This announcement appears four days after the so-called “crypto week,” during which the House passed three bills. While Bitcoin’s price initially spiked above $120,000, it has since retreated to $118,436.

Trump signed the so-called “GENIUS” stablecoin bill into law earlier that week. However, two other crypto bills concerning market structure and central bank digital currencies await Senate confirmation. The GENIUS Act may benefit Trump’s family-backed fintech firm, World Liberty Financial, which developed its own stablecoin. The company’s governance token (WLFI) price climbed over 100% recently amid a decision to list it.

Meanwhile, a token associated with a presidential enterprise grew nearly 10%, reaching $11.55, priced at $10.45 seven days prior.

HTD Strategic Bitcoin Reserve

In March, Trump executive-ordered the creation of a “Strategic Bitcoin Reserve” and “Digital Asset Stockpile.” Governments or law enforcement agencies holding seized crypto were the initial suggested components. Advisers later indicated alternative consideration, including revaluing the existing government gold reserves.

Also see: “Trump Crypto Ventures May Have Lifted His Net Worth by $620M – Report”

Conflicts of Interest Spark Questions

The White House, citing its official market principles, directed U.S. entities to cease trading volatile stablecoins. This order led the Centers for Medicare & Medicaid Services (CMS) to halt payment plan requests tied to such stablecoins. CMS later acknowledged regulators require examining Trump’s positions for apparent conflicts of interest.

Read more: “Trump’s Crypto Ventures raise questions about potential conflicts of interest and insider trading”