Latest news with #TrumpMedia
Yahoo
8 hours ago
- Business
- Yahoo
New $2 billion Bitcoin buy shows crypto replacing real estate at core of Trump business empire
President Donald Trump's media company just bought a stash of the world's largest cryptocurrency. On Monday morning, Trump Media and Technology announced that it had acquired $2 billion in Bitcoin and Bitcoin-related securities. It also reserved $300 million to buy Bitcoin options. The market appeared to approve of the move as stock in Trump's firm jumped 7.2% on Monday morning from the previous close. It's up 9% at almost $20 over the past week. About two-thirds of the company's nearly $3 billion in liquid assets are allocated to Bitcoin. 'We're rigorously implementing our publicly announced strategy and fulfilling our Bitcoin treasury plan,' Trump Media president and CEO Devin Nunes said in a statement. 'These assets help ensure our Company's financial freedom.' Trump owned the majority of shares in Trump Media and transferred them in December to a revocable trust before he became president. The stock issued to buy Bitcoin has diluted Trump's ownership percentage. The mammoth crypto buy comes almost two months after the company said it had issued $2.5 billion of new stock and debt to pursue a Bitcoin treasury. The move also reinforces how crypto, not real estate, increasingly fuels the Trump family's business empire. Real estate to crypto For decades, Trump has touted his real estate dealmaking prowess. There was Mar a Lago, his golf club in Palm Beach; the Trump Tower, his skyscraper in midtown Manhattan; and a host of other properties that he said fueled a billion-dollar-plus empire. But, beginning in December 2022, just a month after the crypto exchange FTX declared bankruptcy, the longtime real estate mogul dove into crypto. His crypto businesses now account for at least half of his business's on-paper worth, according to previous reporting from Fortune and Forbes. Trump's early crypto forays included launching his own collection of NFTs, or non-fungible tokens, that depicted him as a muscular superhero or cowboy. Then, in 2024, as he was campaigning for reelection, Trump aligned himself with crypto executives and spoke at a marquee conference for Bitcoin. That summer, his sons Eric and Donald Jr. dove into crypto and launched their own decentralized finance application called World Liberty Financial. Add in a memecoin from Trump, another one for Melania, and a new Bitcoin mining business, and the Trumps' network of ventures increasingly looked less like a real estate empire and more like a crypto conglomerate. This includes Trump Media, which encompasses Truth Social, Trump's alternative to the social media website X. The company went public in March 2024 and has reported little revenue since its launch. For the first quarter of 2025, it recorded only $821,000 in its topline, according to a filing with the Securities and Exchange Commission. As it's struggled to find its footing in media, it's pivoted to crypto. In addition to its Bitcoin treasury, Trump Media has also filed to launch a string of crypto ETFs for tokens like Bitcoin, Ethereum, Solana, and others. It's even hinted at launching its own cryptocurrency and digital wallet. This story was originally featured on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
10 hours ago
- Business
- Yahoo
Trump Media Holds $2B in Bitcoin, Plans More Crypto Buys
Trump Media & Technology Group (DJT, Financials) disclosed Monday that its bitcoin (BTC-USD) and related crypto holdings have reached about $2 billion, as the firm expands its digital asset strategy and President Donald Trump accelerates his crypto policy agenda. The Truth Social parent said it plans to continue purchasing bitcoin and has committed $300 million toward an options-based acquisition strategy. The crypto assets make up roughly two-thirds of the company's $3 billion in liquid assets. DJT recently filed to launch three crypto exchange-traded funds, in partnership with set to debut later this year. The news comes days after Trump signed the GENIUS Acta stablecoin-focused billinto law, alongside two other crypto measures passed by the U.S. House. Bitcoin traded near $119,000 Monday, having surged by a third in the past three months and hitting a record above $123,000 last week. This article first appeared on GuruFocus.
Yahoo
12 hours ago
- Business
- Yahoo
Daily Stock Watch: Why investors are watching Trump Media, Alphabet, and Verizon
Trump Media shares rose premarket after gaining 3% on Monday. The company announced it had accumulated $2 billion in bitcoin and related assets. Verizon, Archer Aviation, Alphabet, and Opendoor also saw notable premarket moves. Trump Media, Verizon Communications, Archer Aviation, Alphabet, and Opendoor Technologies are on investors' minds. This is where they were trading premarket as of 7 a.m. ET Tuesday —and what's driving the moves. 1. Trump Media & Technology The move: The company that owns the social media platform Truth Social jumped almost 1.5% to $19.53 per share, after gaining 3% Monday. Why: The company announced that it had accumulated about $2 billion worth of bitcoin and related securities following the signing of President Donald Trump's crypto bill on Friday. 2. Verizon Communications The move: The stock was up about 0.4% to $42.68 a share, after rising 4% on Monday. Why: Before the bell Monday, the telecommunications giant reported second-quarter earnings that beat analysts' estimates and upgraded its profit forecast for the year. 3. Archer Aviation The move: The California-based company that develops electric vertical takeoff and landing aircraft was down nearly 3% to $11.49 a share after falling almost 11% on Monday. Why: Its stock fell after a judge ruled that a lawsuit against the company can proceed. The lawsuit alleges that Archer Aviation, billionaire Ken Moelis, and others behind the merger deal that made Archer public misled shareholders about the value of shares. 4. Alphabet The move: Alphabet rose 0.4% to $191.90 per share after rising nearly 3% on Monday. Why: The company that owns Google saw a jump when several analysts raised their price targets ahead of it reporting its latest earnings results after the bell on Wednesday. Morgan Stanley cited a possible revenue boost driven by its generative AI efforts. 5. Opendoor Technologies The move: The real-estate company has continued to rise, up 14% to $3.66 a share after gaining 42% on Monday. Why: The surge came after a social media post by investor and Carvana spotter Eric Jackson, who said he expected a strong turnaround for Opendoor. Read the original article on Business Insider Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Malaysia Sun
14 hours ago
- Business
- Malaysia Sun
Trump Media invests $2 billion in Bitcoin
The company plans to use the assets to generate revenues, according to a statement US President Donald Trump's media and technology company has acquired about $2 billion in Bitcoin and related assets, underscoring his administration's accelerating pivot toward cryptocurrencies. The Trump family has increasingly aligned with the crypto industry through new ventures, investments, and public endorsements in recent months. On Monday, Trump Media - the firm behind the Truth Social platform - announced the acquisition, saying another $300 million in capital has been allocated to an options-based Bitcoin strategy, and signaling that it may convert the options into cryptocurrency depending on market conditions. The assets will be used "to generate revenues and potentially to acquire additional crypto assets," CEO and President Devin Nunes said. Crypto now accounts for about two-thirds of the firm's $3 billion in liquid holdings. The purchase is part of Trump Media's 'Bitcoin treasury plan', which involves buying and holding digital assets - similar to how companies stockpile bonds - to increase liquidity and financial flexibility. Trump Media shares soared nearly 10% following the announcement. Trump, who placed his shares in a revocable trust managed by Donald Trump Jr., maintains a major stake valued at around $2.3 billion. Once a crypto skeptic, Trump reversed course during the 2024 campaign, pledging to make the US the "crypto capital of the world" and to serve as its "crypto president." Since returning to the White House, he has backed several family-led ventures in the space, including World Liberty Financial - a decentralized finance project that has brought in $500 million since launching in September. As part of the new US 'strategic reserve' of crypto assets unveiled in March, Trump signed the GENIUS Act last week - the country's first major law regulating digital currency. Critics have claimed that the overlap between Trump's crypto ventures and his political authority could result in widespread corruption. Trump Media's announcement came less than a week after Bitcoin hit a record high, topping $120,000 - reinforcing its position as the world's most valuable and widely held cryptocurrency. Analysts attributed the rally to surging institutional demand and a shift in US policy under Trump. On Tuesday, it was trading at $118,395 per coin. (
Russia Today
15 hours ago
- Business
- Russia Today
Trump Media invests $2 billion in Bitcoin
US President Donald Trump's media and technology company has acquired about $2 billion in Bitcoin and related assets, underscoring his administration's accelerating pivot toward cryptocurrencies. The Trump family has increasingly aligned with the crypto industry through new ventures, investments, and public endorsements in recent months. On Monday, Trump Media – the firm behind the Truth Social platform – announced the acquisition, saying another $300 million in capital has been allocated to an options-based Bitcoin strategy, and signaling that it may convert the options into cryptocurrency depending on market conditions. The assets will be used 'to generate revenues and potentially to acquire additional crypto assets,' CEO and President Devin Nunes said. Crypto now accounts for about two-thirds of the firm's $3 billion in liquid holdings. The purchase is part of Trump Media's 'Bitcoin treasury plan', which involves buying and holding digital assets – similar to how companies stockpile bonds – to increase liquidity and financial flexibility. Trump Media shares soared nearly 10% following the announcement. Trump, who placed his shares in a revocable trust managed by Donald Trump Jr., maintains a major stake valued at around $2.3 billion. Once a crypto skeptic, Trump reversed course during the 2024 campaign, pledging to make the US the 'crypto capital of the world' and to serve as its 'crypto president.' Since returning to the White House, he has backed several family-led ventures in the space, including World Liberty Financial – a decentralized finance project that has brought in $500 million since launching in September. As part of the new US 'strategic reserve' of crypto assets unveiled in March, Trump signed the GENIUS Act last week – the country's first major law regulating digital currency. Critics have claimed that the overlap between Trump's crypto ventures and his political authority could result in widespread corruption. Trump Media's announcement came less than a week after Bitcoin hit a record high, topping $120,000 – reinforcing its position as the world's most valuable and widely held cryptocurrency. Analysts attributed the rally to surging institutional demand and a shift in US policy under Trump. On Tuesday, it was trading at $118,395 per coin.
