Us President Donald Trump Takes Big Bet on Bitcoin, Trump Media to Invest UsD 2.5 Billion in Bitcoin

American President Donald Trump has decided to place a big bet on the crypto segment. Trump’s social media company Trump Media and Technology Group has decided to invest about $ 2.5 billion (about Rs 21,416 crore) in Bitcoin with the highest market value.

Recently, Trump also signed an order to create a strategic reserve of bitcoin in the US. In the executive order that Trump has signed, it is clear that the amount of taxpayers will not be used to buy this most popular cryptocurrency. Trump Media and Technology Group has reported that about $ 1.5 billion shares and one billion $ one billion convertible notes will be sold for this purchase of bitcoin. This bitcoin will be placed in the balance sheet of Trump Media with a cash and short-term investment of about $ 75.9 crore. Crypto.com and anchorage will provide digital custody for this bitcoin holding.

“We see Bitcoin as a major instrument of financial freedom,” said Devin Nunes of Trump Media, Devin Nunes. Some American companies, including Strategy (East Microstrategy), have also made a big investment in bitcoin. In the last few months, there has been a lot of volatility in the price of bitcoin. Behind this, American President Trump is a major reason for putting heavy tariffs on imports from many countries including China. However, Bitcoin has recovered from Trump’s indication of compromising on trade with China and has crossed the level of one million dollars again.

The American bank JP Morgan predicts that Bitcoin can give more returns compared to gold this year. Recently, JP Morgan’s analysts said, “Gold from mid -February to mid -April this year was due to bitcoin. However, the opposite has been happening since the last few weeks. The price of bitcoin is increasing due to gold.” JP Morgan’s managing director, Nikolaos Panigirtzoglou said, “There has been an equal contest between Gold and Bitcoin this year and it can remain the same in the rest of the year. However, for the second half of this year, we estimate the return of gold.”