Trump’s company is shockingly one of the top holders of Bitcoin originally appeared on TheStreet.
Trump Media & Technology Group or TMTG (Nasdaq: DJT) announced on July 21 that it has added 2 billion worth of Bitcoin to its corporate treasury.
With this surprising move, the media company, majority-owned by President Donald Trump, has joined the elite club of the largest corporate holders of the world’s largest cryptocurrency.
TMTG holds 18,430 BTC worth more than $2 billion at the time of writing as per BitcoinTreasuries, making it the fifth-largest publicly traded corporate holder of Bitcoin.
Michael Saylor’s Strategy (Nasdaq: MSTR) continues to lead the pack, with $71.2 billion in BTC on its balance sheet. The business intelligence firm turned into a Bitcoin treasury company around 2020 and has since become a pioneer of sorts, paving the way for several other companies around the globe to embrace a Bitcoin treasury strategy.
Bitcoin mining firm MARA Holdings (Nasdaq: MARA) is the second on the list, holding $5.86 billion in BTC.
The newly launched Bitcoin-centric company, Twenty One (Nasdaq: XXI), is next on this list, holding $4.36 billion in BTC.
Another prominent Bitcoin mining firm, Riot Platforms (Nasdaq: RIOT), ranks fourth on the list and holds $2.25 billion in BTC.
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Bitcoin treasury isn’t the only crypto venture the Trump family is involved with. Meme coins, crypto exchange-traded funds (ETFs), crypto mining, decentralized finance (DeFi), non-fungible tokens (NFTs) — there is simply no segment in the industry that has escaped them.
As the president, Trump has pursued an aggressive pro-crypto agenda. However, the deep involvement of the First Family with several crypto ventures has raised eyebrows from the Democrats.
Bitcoin, which hit the record high of $123,091.61 last week, was trading at $117,175.20 at press time.
