U.S. President Donald Trump is one of the individuals with the largest holdings of Bitcoin.
Axar.az reports that he owns approximately $870 million worth of Bitcoin.
Interestingly, this substantial wealth does not appear in the president’s official financial disclosures and is not listed on the “Trump Organization” website, because Trump holds his share through the account of “Trump Media Technology Group” (TMTG), the operator of “Truth Social.”
In May of this year, TMTG raised $2.3 billion through a stock sale. In July, TMTG used these funds to purchase $2 billion worth of Bitcoin. As a result of the stock sale, Trump’s stake in TMTG fell from 52% to 41%. However, after the company’s large Bitcoin purchase, the cryptocurrency’s price increased by approximately 6%, raising Trump’s personal share in Bitcoin to $870 million. This places Trump on the same level as major cryptocurrency billionaires such as the Winklevoss twins (who own $8 billion in Bitcoin) and Michael Saylor (who owns approximately $5 billion in Bitcoin).