- Trump Media acquires 450 BTC, increasing their holdings significantly.
- Current Bitcoin holdings valued at $1.04 billion.
- Market reacts with significant stock change for TMTG.
Trump Media & Technology Group, led by Devin Nunes, acquired 450 Bitcoins worth $40.3 million on December 23, boosting holdings to 11,542 BTC, equivalent to $1.04 billion.
This acquisition signifies an aggressive investment strategy amid a volatile market, impacting Bitcoin’s treasury assets value and corresponding stock fluctuations.
Trump Media Expands Bitcoin Holdings to Over 11,500 BTC
The primary change is the increased Bitcoin holding, which represents a strategic asset diversification for TMTG. The address balance now stands at 11,542 BTC, approximately valued at $1.04 billion. This increase indicates a continued confidence in cryptocurrency as a treasury asset, despite the ongoing market volatility.
Devin Nunes, CEO, Trump Media & Technology Group, said, “TMTG allocated approximately $40.3 million to acquire 451 BTC, increasing its total holdings to over $1 billion.”
The market showed a negative reaction, with TMTG’s stock, trading under the symbol ($DJT), dropping nearly 10%. This decline comes amidst a broader merger announcement. There have been no significant public statements from TMTG executives about these recent transactions, leaving investors analyzing potential long-term impacts. Industry experts suggest this move signals broader crypto adoption among similar organizations.
TMTG Stock Declines 10% Post-Bitcoin Purchase
Did you know? TMTG had announced an intention in 2025 to launch a Bitcoin and Ethereum ETF, showcasing its ongoing commitment to cryptocurrency investments beyond treasury strategies.
Bitcoin currently trades at $88,309.63, with a market capitalization of $1.76 trillion and a market dominance of 58.96%. According to CoinMarketCap, Bitcoin’s 24-hour trading volume is $35.49 billion, signifying an 86.41% change. Recent price movements include a 2.44% rise over the past week, albeit a decline of 20% over the past 60 days. The circulating supply is near 19.97 million BTC of a total 21 million.
The Coincu research team notes potential financial impacts stemming from TMTG’s growing crypto holdings. Historically, such large-scale acquisitions fuel optimism about adoption. However, regulatory stances remain uncertain, requiring vigilance. The effectiveness and timing of TMTG’s broader crypto strategy could set benchmarks in corporate asset management within cryptocurrency sectors.
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