Trump’s media company reports $2B in Bitcoin after crypto bills pass US House

Key Points

1. Trump Media and Technology Group, owner of Truth Social, holds about $2 billion in Bitcoin as part of its investment strategy announced in May.

2. The US House of Representatives passed three crypto-related bills during 'crypto week,' which briefly drove Bitcoin's price above $120,000.

3. Trump signed the GENIUS stablecoin bill into law, potentially benefiting his family-backed crypto business, World Liberty Financial.

4. The price of World Liberty Financial's governance token (WLFI) more than doubled in seven days, and Trump's memecoin (Official Trump) rose by about 10%.

5. Trump controls 80% of his memecoin supply through two companies and had a 20% stake in World Liberty Financial as of June.

6. In March, Trump signed an executive order to establish a 'Strategic Bitcoin Reserve' and a 'Digital Asset Stockpile,' with potential alternatives including revaluing government gold certificates.