Donald Trump is now among America's largest Bitcoin investors.
- According to Forbes, Donald Trump owns approximately $870 million worth of Bitcoin.
- Earlier this year, Trump Media (the media company behind Truth Social) announced plans to accumulate Bitcoin.
- Cryptocurrency has become a disproportionately large component of Trump's net worth.
According to Forbes, Donald Trump owns approximately $870 million worth of Bitcoin, making him one of the largest individual BTC investors in the United States.
Earlier this year, Trump Media (the media company behind Truth Social) announced plans to build a Bitcoin holding, effectively positioning the US president himself as the largest private Bitcoin holder in the US. In fact, the company took advantage of its very high stock price to raise a significant amount of money by selling $1 billion in convertible bonds and another $1.4 billion in its own shares.
Related: Trump's company plans to spend $1 billion to buy and hold the $TRUMP token
Cryptocurrency now makes up a significant portion of Trump's wealth.
It's no secret that cryptocurrency (both crypto assets and crypto projects) has become a disproportionately large component of Trump's net worth. He and his family also support World Liberty Financial (WLFI), a token and stablecoin project linked to Trump-affiliated businesses.
Currently, only a few billionaires own more Bitcoin than Donald Trump. For example, the Winklevoss twins likely have more, given their net worth of $8 billion (assuming they haven't sold it yet). Then there's Michael Saylor, who has about $5 billion from his stake in MicroStrategy, plus another $2.2 billion in personal funds.
Trump's current stance on cryptocurrencies and his pro-cryptocurrency stance are in stark contrast to his first term as president, when he stated that he was not a fan of Bitcoin or other cryptocurrencies, claiming that their value was extremely volatile and unstable.
Could Trump's involvement help Bitcoin?
Trump's transformation from a vocal cryptocurrency skeptic to one of the largest Bitcoin holders could change both market sentiment and political sentiment around digital assets.
In the six months since his election last November, the price of Bitcoin has risen by about 60%.
If Trump continues to push pro-crypto policies, such as the creation of the U.S. Strategic Bitcoin Reserve and a more favorable tax and regulatory framework, this could encourage the country's major institutions to adopt cryptocurrency much more quickly.
Read also: CZ calls US President Donald Trump the crypto president
However, his large personal investments could also raise questions from regulators concerned that policy decisions could be influenced by his personal financial gain.
Nevertheless, Trump's public investment in Bitcoin has undoubtedly brought digital assets back into the political mainstream, cementing Bitcoin's status as a component of the global financial landscape.
Source: cryptonews.net
