Trump Media Increases Bitcoin Holding To $900 Million
President Trump’s Trump Media has reportedly increased its Bitcoin (BTC) holdings to 14,139 BTC, valued at nearly $900 million. The figures represents a significant increase from June’s 9,477.16 BTC. The development seems to show that Trump Media bought the dip and may continue to do so.
Should You Follow Trump Media And Buy The Bitcoin Dip?
The Trump family has made a huge fortune with their cryptocurrency ventures. The family has earned upwards of $1 billion with crypto after President Trump assumed office. Trump Media, the social media wing of the Trump family business, while increasing its Bitcoin (BTC) holdings in July, reported a $238 million net loss in the second quarter. Particularly, the firm reported $190.4 million in unrealized losses across its digital assets, pledged digital assets and equity securities in Q2.
While the losses are substantial, Trump Media still seems quite bullish on Bitcoin (BTC). The surge in its BTC holdings over the last month is a testament to the family’s outlook for the asset. President Trump’s son, Eric Trump, has been very vocal about his support and admiration for the cryptocurrency landscape.
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