Here’s why Trump Media stock price is soaring today
Main Idea
Trump Media's stock surged after announcing a significant increase in its Bitcoin treasury and crypto-heavy strategy, alongside broader market enthusiasm following the GENIUS Act and rising Bitcoin wealth among investors.
Key Points
1. Trump Media (NASDAQ: DJT) surged 8.73% pre-market after announcing its Bitcoin treasury program grew to approximately $2 billion, accounting for two-thirds of its $3 billion in liquid assets.
2. The company allocated $300 million for Bitcoin-linked equity options, which may be converted into spot Bitcoin depending on market conditions.
3. The announcement followed President Trump signing the GENIUS Act, the U.S.'s first comprehensive crypto legislation, boosting market enthusiasm.
4. Finbold Research reported over 15,000 new Bitcoin millionaires were added in the first six months of Trump's presidency, totaling 192,205 by July 20.
5. Trump Media's move signals confidence in Bitcoin's upward momentum and could set a precedent for broader crypto adoption in traditional finance.
Description
Trump Media (NASDAQ: DJT ) surged at the opening bell on Monday after announcing that its Bitcoin treasury program has swelled to approximately $2 billion in combined holdings of Bitcoin and Bitcoin-related securities. The company, which operates Truth Social, revealed in a press release that the crypto-heavy strategy now accounts for roughly two-thirds of its $3 billion in liquid assets. In addition to direct Bitcoin exposure, Trump Media has allocated $300 million for purchasing options tied t...
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