BlockBeats News, October 13, According to Forbes, U.S. President Trump currently indirectly holds about $870 million in Bitcoin, making him one of the world’s largest Bitcoin investors.
The report points out that Trump indirectly holds a large amount of Bitcoin through his ownership of Trump Media & Technology Group (TMTG) shares. TMTG operates the social media platform Truth Social, which despite generating less than $4 million in annual revenue, has a market value of tens of billions of dollars on the Nasdaq. Earlier this year, TMTG raised $2.3 billion through debt and the sale of overvalued stock and in July purchased about $2 billion worth of Bitcoin.
Subsequently, Trump’s stake in the company has decreased from 52% to 41%. Since the company’s Bitcoin strategy, the price of BTC has risen by about 6%, and it is estimated that the value of Bitcoin held by Trump’s shares is approximately $870 million.
