Trump Media has announced that he had concluded an agreement to sell large amounts of shares to buy more than $ 2.3 billion in Bitcoin. It would make his business one of the biggest BTC holders in the world.
The evaluation of the actions of the company has rallied following the announcement, but it could also invite a political return to the cryptography industry. For the better or for the worst, the president’s personal mark joins Bitcoin in a major way.
Trump Media buys Bitcoin
President Trump has embarked on many cryptographic companies, but the next plan of his business could transform the whole industry. Rumors started earlier this week that Trump Media planned to buy Bitcoin, and the company confirmed them.
Today, a new press release revealed that progress has occurred earlier than expected and that an agreement has been finalized:
“Trump Media announced today that he had closed his private investment offer previously announced with around 50 institutional investors. The offer was made up of [stock sales] With an overall purchase price of around 2.44 billion dollars. Trump Media will use about $ 2.32 billion in net products to create a bitcoin treasure, “he said.
Since Microstrategy began to open the way, more and more companies have become the main holders of the BTC. Shortly after the 2024 elections, Peter Schiff suggested mockingly that Trump Media should buy Bitcoin, but it seems that this remark is realized.
To be clear, the press release leaves a small room for maneuver and 100% of the profits may not go to this reserve. However, the third corporate BTC holder, Riot, has less than $ 2 billion in token.
If Trump Media undertakes this Bitcoin acquisition, he would immediately have a reserve greater than any company, except the marathon or microstrategy.
Since Trump Media made this Bitcoin announcement, his scholarship course jumped approximately 4%. Bitcoin has been successful in recent times, presenting coherent gains that have reduced its volatility in the last 90 days.
By buying now, Trump’s private activities are more involved in an industry that has been a centerpiece of its political administration.
Of course, Trump Media also experienced its fair share of controversies, and this purchase could represent a conflict of interest. Crypto already explains a huge part of Trump’s net value, which invited a lot of criticism.
This purchase will also link the Bitcoin ecosystem to Trump’s personal brand, which may not be advantageous forever.
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