Donald Trump turned out to be one of the world’s largest bitcoin holders
12 October 20:13
U.S. President Donald Trump owns a significant stake in bitcoin worth about $870 million, making him one of the largest holders of this cryptocurrency in the world.
This was reported by Forbes, "Komersant Ukrainian" reports.
Interestingly, this significant asset does not appear in the president’s official financial declarations and is not mentioned on the Trump Organization’s website. The secret lies in its indirect ownership: Trump holds his stake through his interest in Trump Media Technology Group (TMTG), the Nasdaq-listed operator of Truth Social.
TMTG, despite its modest annual revenue (less than $4 million), has attracted a multi-billion dollar valuation. In May of this year, the company raised $2.3 billion through a debt offering and share sale. In July, TMTG used these funds to purchase $2 billion worth of bitcoins.
As a result of the sale of shares, Trump’s stake in TMTG decreased from 52% to 41%. Since the price of the cryptocurrency has risen by about 6% since Trump’s large purchase of bitcoin, his personal stake in this crypto stock is estimated at $870 million (41% of the estimated $2.1 billion stock).
This puts Trump on a par with the largest crypto billionaires, such as the Winklevoss brothers (potentially over $8 billion) and Michael Saylor (about $5 billion).
This transformation from skeptic to major bitcoin owner reflects Trump’s pragmatic approach to business. In 2019, he publicly stated: “I’m not a fan of bitcoin and other cryptocurrencies that are not money, whose value is extremely volatile and based on nothing.”
Nevertheless, after leaving the White House, Trump began to take an active interest in crypto assets. First, he released an NFT collection, and then, as the 2024 elections approached, he launched the World Liberty Financial crypto project. According to Forbes, after his election victory, the tokens associated with this project brought him more than $1 billion. In addition, the launch of the TRUMP memecoin shortly before the inauguration added about a billion more to his fortune.
