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Donald Trump’s Media Conglomerate Is Becoming a Bitcoin Reserve
Trump Media and Technology Group, the parent company to Truth Social, has announced plans to buy up billions of dollars’ worth of bitcoin.
"We view bitcoin as an apex instrument of financial freedom, and now Trump Media will hold cryptocurrency as a crucial part of our assets,” said TMTG CEO Devin Nunes in a statement. In January, in the days leading up to the inauguration, Trump and his wife Melania both issued their own crypto coins, adding billions of dollars to their paper net worth. “Look back at some of Donald Trump’s ventures over time … he essentially brings the marketing and a built-in audience in return for a relatively large cut,” says Austin Campbell, adjunct professor at NYU Stern School of Business and managing partner at crypto consultancy Zero Knowledge.
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