Trump Media Bought $2 Billion Worth of Bitcoin [Decenter Market Status]

Amid mixed trends in major cryptocurrencies, Trump Media and Technology, a media company owned by former President Donald Trump, announced that it holds Bitcoin (BTC) and related securities worth $2 billion (approximately 2.7666 trillion won).

As of 8 AM on the 22nd, according to the global cryptocurrency market site CoinMarketCap, BTC is trading at $117,383.93, down 0.18% from the previous day. At the same time, the altcoin leader Ethereum (ETH) rose 0.38% to $3,766.49, XRP increased by 3.14% to $3.567. Solana (SOL) surged 9.10% to trade at $197.22.



The domestic market is also showing mixed trends. Based on Bithumb, BTC is down 0.43% to 160,202,000 won. ETH is down 1.21% to 5,125,000 won, XRP has fallen 1.22% to 4,866 won, and SOL is up 1.97% to 269,500 won.

Trump Media and Technology, of which former President Trump is the largest shareholder, announced on the 21st (local time) that it has secured a total of $2 billion worth of BTC and related securities. Among the total liquid assets of $3 billion, BTC-related assets account for two-thirds. Of the assets purchased this time, $300 million is an option for BTC-related securities, which provides the right to secure physical BTC in the future. Trump Media previously stated that it raised over $2.3 billion from about 50 institutional investors in May and plans to use these funds for a BTC reserve management strategy.

Devin Nunes, CEO of Trump Media, said on the day, "We are strictly implementing the disclosed strategy, and BTC assets will ensure the company's financial freedom and protect it from discrimination by financial institutions." He added, "We also expect to create synergy with the utility token planned to be introduced in the Truth Social ecosystem."

Trump supporters have claimed that some major financial institutions have restricted transactions for political reasons. Former President Trump has also publicly warned CEOs of financial institutions about this issue. Subsequently, some banks have formalized policies of 'not discriminating against companies for political reasons'.

The Fear and Greed Index from cryptocurrency data analysis company Alternative.me dropped 1 point from the previous day to 71 points, indicating a 'greed' state. This index means that the closer to 0, the more constrained the investment sentiment, and the closer to 100, the more overheated the market.

Reporter Do Ye-ri