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Trump Media and Technology Group, the genitor institution of Truth Social, revealed it has amassed astir $2 cardinal worthy of Bitcoin (BTC) and related integer assets, expanding connected an concern strategy disclosed earlier this year.
The company’s July 21 filing comes days aft the U.S. House of Representatives precocious a trio of crypto bills, including a stablecoin framework signed into instrumentality by President Donald Trump.
The media steadfast said it began acquiring Bitcoin utilizing proceeds from $2.5 cardinal successful caller fundraising, including $1.5 cardinal successful equity income and $1 cardinal successful enslaved offerings.
The disclosure signals a much assertive attack by Trump-aligned businesses successful capitalizing connected favorable crypto argumentation momentum. The steadfast stated that it whitethorn proceed purchasing Bitcoin and akin assets depending connected broader marketplace conditions.
The announcement followed what Republicans dubbed “crypto week” successful Congress. While the caller instrumentality establishes rules for U.S. dollar-pegged integer tokens, further proposals covering crypto trading infrastructure and cardinal bank-issued integer currencies await Senate review.
Bitcoin concisely traded above $123,000 earlier successful the week earlier retreating to astir $116,600 arsenic of property time. The token’s caller rally has been accompanied by accrued enactment successful integer assets tied to Trump’s idiosyncratic brand.
World Liberty Financial, a stablecoin level with connections to the Trump family, saw its governance token WLFI much than treble successful worth implicit the past week pursuing a ballot enabling secondary marketplace trading.
Trump issued the landmark enforcement bid to found a Strategic Bitcoin Reserve, a national stockpile of integer assets, successful March.
While aboriginal investigation suggested the reserve mightiness dwell of crypto seized by instrumentality enforcement, caller statements from elder officials person hinted astatine broader approaches, including monetizing dormant government-held assets.
With legislative backing and marketplace signals aligning, the media firm’s Bitcoin stake reflects a broader propulsion from Trump-linked entities to presumption themselves astatine the forefront of the integer plus economy.
The station Trump Media discloses $2B Bitcoin holdings arsenic Congress approves cardinal crypto legislation appeared archetypal connected CryptoSlate.
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