Bitcoin News Today: Trump Media Invests $2 Billion in Bitcoin Amid Crypto Bills

Trump Media and Technology Group, the company behind former US President Donald Trump's Truth Social platform, has disclosed that it holds approximately $2 billion in Bitcoin and Bitcoin-related securities. This revelation comes just days after several significant cryptocurrency bills, backed by Trump, advanced through the US House of Representatives. The company's investment strategy, announced in May, allocated $1.5 billion from stock sales and $1 billion from convertible senior secured bonds to purchase Bitcoin. Trump Media has indicated that it will continue to acquire Bitcoin and related assets, contingent on market conditions.

The disclosure follows a week of intense legislative activity in the US House, dubbed "crypto week" by Republicans and Trump. During this period, three key bills were passed, including the GENIUS stablecoin bill, which was signed into law by Trump. The other two bills, focusing on crypto market structure and central bank digital currencies, still require Senate approval before reaching the president's desk. The passage of these bills has sparked significant interest in the cryptocurrency market, with Bitcoin's price briefly surging to over $120,000 at the start of the week, although it has since stabilized.

Trump's family-backed crypto business, World Liberty Financial, which has its own stablecoin, may benefit from the signing of the GENIUS bill. The price of World Liberty Financial's governance token, WLFI, has more than doubled in the past week as holders voted to make it tradable. Additionally, the price of the president's memecoin, Official Trump (TRUMP), increased by about 10% during the same period. One of the companies tied to Trump and his family holds a 20% stake in World Liberty, and the president effectively controls 80% of his memecoin supply through two companies.

The strategic move by Trump Media to invest in Bitcoin aligns with Trump's broader interest in cryptocurrencies. In March, Trump signed an executive order to establish a "Strategic Bitcoin Reserve" and a "Digital Asset Stockpile" in the US. While most experts initially suggested that the stockpile would consist of crypto seized by US authorities, Trump's advisers later indicated that they were exploring alternatives, including revaluing the government’s gold certificates. This development underscores Trump's commitment to integrating cryptocurrencies into the national financial strategy, potentially setting a precedent for future government involvement in the digital asset space.