Trump Media Aims to Invest up to $250 Million into Bitcoin, Other Opportunities
The post Trump Media Aims to Invest up to $250 Million into Bitcoin, Other Opportunities appeared on BitcoinEthereumNews.com.
Trump Media & Technology Group, a company that is majority-owned by U.S. President Donald Trump, has announced that they will be expanding into financial services via a new brand called Truth.Fi. Trump Media’s expanding into FinTech with a platform called https://t.co/PIPjiI5wOA It plans to invest in crypto, ETFs, and more—with a launch date later this year$DJT was up +11% at the opening bell pic.twitter.com/9XipnocNDO — Morning Brew ☕️ (@MorningBrew) January 29, 2025 Through the Truth.Fi brand, Trump Media has allocated $250 million to deploy into various investment opportunities, which includes Bitcoin and other cryptocurrencies, crypto-related securities, customized ETFs, and customized SMAs. According to Trump Media, financial services heavyweight Charles Schwab will “broadly advise” Truth.Fi when it comes to investments and strategy. The company will also work with Truth.Fi to develop SMAs (separately managed accounts). The market for the stock has responded positively to the announcement, as Trump Media stock jumped from $30 to a local peak of $33.25 in response to the news. The move is yet another confirmation of Trump’s positive stance towards cryptocurrencies, which has arguably been the main catalyst for Bitcoin’s run above $100,000. However, Trump Media’s announcement didn’t have an immediate impact on the crypto markets, as Bitcoin is currently trading at practically the same price as 24 hours ago. The fact that Truth Media is looking to make investments into cryptocurrency shouldn’t come as too much of a surprise given that Trump has also backed the launch of the crypto project World Liberty Financial, which has been actively promoted by his team and family. According to data provided by Arkham Intelligence, World Liberty Financial currently holds over $390 million worth of assets, with its largest holding being ETH ($194 million). Other notable holdings include WBTC ($65.7 million), stETH ($60 million), USDC ($35.3 million) and USDT…
Filed under: News - @ January 29, 2025 5:23 pm