Latest news with #Bitcoin-related
Gizmodo
a day ago
- Business
- Gizmodo
Mysterious Whale Makes a 17,000,000% Profit on a 14-Year-Old Bitcoin Bet
Several Bitcoin whales—investors who hold large amounts of the cryptocurrency — have recently started cashing out after leaving their Bitcoin untouched for more than a decade. Last week, one anonymous whale sold 80,000 Bitcoin for a whopping $9.5 billion. A user on X (formerly Twitter) first flagged the massive transaction, which was later reported by Tom's Hardware. The seller had originally purchased the Bitcoin in 2011 for just $54,000, netting a staggering return of more than 17 million percent. And they're not the only one cashing in on Bitcoin's all-time high. Tom's Hardware also reported that another long-time Bitcoin holder—rumored to be early crypto evangelist Roger Ver—sold off his stash for a massive profit. The seller allegedly bought 80,000 BTC in 2014 for around $210,000. Last week, they sold it for over $8.6 billion, making a roughly 4 million percent profit. Additionally, earlier this month, two Bitcoin wallets that had been inactive for 14 years suddenly moved 10,000 BTC each to new addresses. Back in 2011, that amount of Bitcoin would've cost just $16,000, now, they're worth roughly $1 billion. These recent transactions prove that the cryptocurrency investment strategy known as HODL—an acronym which stands for hold on for dear life—can pay huge dividends. These moves come as the Trump administration has taken a notably pro-crypto stance. His supportive policies have helped fuel, in part, Bitcoin's recent rally to an all-time high of $123,000 on July 14. Since then, the price has dipped slightly, sitting at $119,273 as of Thursday. Last Friday, President Donald Trump signed the GENIUS Act into law, introducing loose, industry-friendly regulations for stablecoins — cryptocurrencies tied to assets like the U.S. dollar. At the bill's signing ceremony, Trump was unusually candid about his ties to the crypto community, telling them, 'I got you guys out of so much trouble.' Trump's Justice Department has also dropped investigations into Jesse Powell, founder of the cryptocurrency exchange Kraken, as well as the crypto futures betting platform Polymarket. In March, Trump signed an executive order establishing a federal strategic Bitcoin reserve and a digital asset stockpile. He also named David Sacks, former PayPal COO, as the White House AI & Crypto Czar. Along with his pro-crypto policies, Trump has also made a fortune (on paper) for himself with crypto. Most of his net worth now comes from crypto, according to an analysis from Forbes. And just yesterday, Trump Media, the parent company of Truth Social and the streaming platform Truth+, announced that it bought $2 billion worth of Bitcoin and Bitcoin-related securities. (Disclosure: Trump Media sued Gizmodo along with 19 other media outlets in 2023, claiming that they inaccurately reported financial data about the company. That litigation is pending.)
Yahoo
2 days ago
- Business
- Yahoo
Trump Media Now Boasts $2 Billion of Bitcoin. How Should You Play DJT Stock Here?
Trump Media & Technology Group (DJT) shares surged more than 3% on Monday after the company revealed that it has accumulated $2 billion in Bitcoin (BTCUSD) and Bitcoin-related securities, representing two-thirds of its total $3 billion in liquid assets. The cryptocurrency strategy marks a pivot for the Truth Social parent company, which has allocated an additional $300 million to an options acquisition strategy for Bitcoin-related securities. Management statements indicate that DJT plans to continue accumulating Bitcoin and may convert options to spot Bitcoin based on market conditions. More News from Barchart Nvidia Stock Warning: This NVDA Challenger Just Scored a Major Customer Warren Buffett Has $347.7 Billion in Cash Because Growing an 'Empire' Just to Grow Makes 'the Citizenry Poorer' Dear Microsoft Stock Fans, Mark Your Calendars for July 30 Get exclusive insights with the FREE Barchart Brief newsletter. Subscribe now for quick, incisive midday market analysis you won't find anywhere else. 'We're rigorously implementing our publicly announced strategy and fulfilling our Bitcoin treasury plan,' CEO Devin Nunes announced, citing financial freedom and protection against institutional discrimination as key motivations. DJT also teased plans for a utility token across the Truth Social ecosystem. DJT now functions as a Bitcoin proxy play, similar to MicroStrategy (MSTR) but with added social media exposure. The massive crypto allocation creates volatility tied to Bitcoin's price movements, offering both substantial upside potential and downside risk. Bulls should consider DJT's first-mover advantage in combining social media with a crypto treasury strategy, especially given company namesake President Donald Trump's pro-crypto stance. However, bears must weigh the risk of concentration in having two-thirds of their assets in volatile digital currencies. With Bitcoin recently hitting new highs and Trump's political influence benefiting crypto adoption, with the president recently signing the Genius Act into law, DJT could attract momentum traders. Conservative investors should carefully consider position sizing, given the inherent volatility of both cryptocurrency and meme stock dynamics. Trump Media Expands Its Product Portfolio Earlier this month, Trump Media & Technology announced the successful global launch of its Truth+ streaming platform, marking an expansion beyond its core Truth Social social media business. The platform is now available worldwide across iOS, Android, web, and connected TV devices, including Apple TV (AAPL), Android TV, Amazon Fire (AMZN), and Roku (ROKU), with LG and Samsung apps pending approval. The flagship addition is Newsmax's (NMAX) international channel availability, supporting the network's global expansion efforts. Nunes emphasized DJT's mission to 'challenge the woke news monolith with hard-hitting, non-woke reporting and commentary,' positioning Truth+ as an alternative to mainstream streaming services. Simultaneously, Trump Media filed trademarks for 'Truth Social AI' and 'Truth Social AI Search,' signaling plans to integrate artificial intelligence directly into the Truth Social platform. Nunes described AI integration as 'a big push forward' to develop Truth Social as a 'one-stop-shop for reliable information, non-woke news, and entertainment.' Most notably, DJT filed an initial SEC registration statement for the Truth Social Bitcoin and Ethereum ETF, which would hold 75% Bitcoin and 25% Ether (ETHUSD). will serve as the exclusive custodian and execution agent, with shares planned for listing on the NYSE Arca Exchange upon regulatory approval. These developments represent Trump Media's ambitious diversification strategy, expanding from social media into streaming, AI, and cryptocurrency ETFs. Investors should note that despite the recent business updates, analysts tracked by Barchart do not provide ratings or price targets on DJT stock. On the date of publication, Aditya Raghunath did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on
Yahoo
3 days 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
Int'l Business Times
4 days ago
- Business
- Int'l Business Times
Trump's Truth Social Says They Now Have $2 Billion in Bitcoin Reserves
President Donald Trump's social media app Truth Social announced they now have approximately $2 billion in Bitcoin reserves and Bitcoin-related assets. The move to acquire the large amount of cryptocurrency was made by Truth Social's operator Trump Media, leading the Bitcoin to account for nearly two-thirds of their assets, which total $3 billion, according to a press release . "These assets help ensure our Company's financial freedom, help protect us against discrimination by financial institutions, and will create synergies with the utility token we're planning to introduce across the Truth Social ecosphere," David Nunes, CEO and president of Trump Media, said. Trump Media said it plans to continue acquiring bitcoin and bitcoin-related assets, which will be used by the company to generate revenue and acquire even more crypto assets. The company shared that it has an "options acquisition strategy for bitcoin-related securities" in place, with $300 million set aside for the plan. The president faced scrutiny earlier this year after launching a Trump memecoin, which was valued at a tens of billions of dollars days before his inauguration. According to an April report from State Democracy Defenders Action, a nonpartisan lobbying and advocacy group, the Trump family has profited at least $2.9 billion from cryptocurrency. Trump held a dinner with the top holders of his memecoin in May, with many reportedly saying that they hoped to influence policies on cryptocurrency. Trump's son Donald Trump Jr., who has been a vocal proponent of cryptocurrency, has pushed back against concerns that the memecoin could lead to foreign influence, telling CNBC in June that "it's hard to influence if you don't know where the stuff is coming from." Since the announcement of Truth Social and Trump Media's acquisition of billions in Bitcoin, stock in Trump Media opened 6% higher Monday morning, according to Yahoo! Finance . Originally published on Latin Times
Business Times
4 days ago
- Business
- Business Times
Trump Media buys US$2 billion in Bitcoin for crypto treasury plan
[NEW YORK] Trump Media & Technology Group, the firm behind Truth Social, has acquired about US$2 billion in Bitcoin and related securities as part of its previously announced plan to become a crypto treasury company. In addition, about US$300 million in capital was allocated to an options acquisition strategy for Bitcoin-related securities, the company said in a statement on Monday (Jul 21). Trump Media plans to continue acquiring Bitcoin and Bitcoin-related assets and to convert its options into Bitcoin, depending on market conditions. In May, Trump Media joined the scores of companies emulating the crypto treasury strategy pioneered by Michael Saylor's Strategy. It's not the only company linked to the US President Donald Trump's family that has jumped to the Bitcoin treasury play. PSQ Holdings, a firm that counts Donald Trump Jr as a board member, also announced plans to explore a digital asset treasury strategy. 'These assets help ensure our company's financial freedom, help protect us against discrimination by financial institutions, and will create synergies with the utility token we're planning to introduce across the Truth Social ecosphere,' said Devin Nunes, chief executive officer and president of Trump Media, in the press release. The Sarasota, Florida-based company said it will also use its Bitcoin and Bitcoin-related securities to generate revenue and potentially 'acquire additional crypto assets.' Shares of Trump Media jumped more then 7 per cent in pre-market trading following the announcement. The stock has slumped around 45 per cent so far this year. BLOOMBERG
