Trump's involvement with Bitcoin, also known as Trump Bit Coin, has sparked a lot of interest in the cryptocurrency market.
The Trump Bit Coin project was launched in 2017 by a company called Truth Social, which has ties to Donald Trump's social media presence.
It's unclear what Trump's personal involvement is with the project, but the company claims to have sold over $1 million worth of the cryptocurrency.
The project's website promises investors a 300% return on investment, which is a pretty bold claim.
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Key Information
Trump Media & Technology Group has amassed about $2 billion in bitcoin and related securities.
This is roughly two-thirds of the company's $3 billion in liquid assets.
The company plans to keep buying bitcoin and has allocated $300 million to an options acquisition strategy for bitcoin-related securities.
Bitcoin recently traded at about $119,000.
Trump Media has filed to launch a trio of crypto exchange-traded funds that invest in Bitcoin and other digital assets.
These ETFs are expected to launch later this year in partnership with Crypto.com.
Here's a breakdown of the company's bitcoin holdings:
- $2 billion in bitcoin and related securities
- $300 million allocated to options acquisition strategy for bitcoin-related securities
- Expected launch of three crypto exchange-traded funds with Crypto.com
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