Trump making big bitcoin moves. Seems fine. And guys, remember, Trump isn’t profiting off the presidency.
Trump Media and Technology Group on Tuesday said it’s struck a deal to raise $2.5 billion that will be tapped to buy bitcoin, creating a reserve of the cryptocurrency.
The company’s move into cryptocurrency comes after Trump Media has ventured into other investment arenas, including starting exchange-traded funds, or ETFs, and separately managed accounts with investment strategies the company says are “rooted in American values and priorities.”
President Trump, the largest investor in Trump Media, has increasingly focused on cryptocurrencies, both through his private business and his administration. He has directed his officials to create a national “crypto strategic reserve” that will include bitcoin, ethereum and lesser-known cryptocurrencies. The goal for Trump Media — best known for its Truth Social app — is to push the company into becoming more than a tech business, according to CEO Devin Nunes.
