Trump's Bitcoin Empire? 2.2 Billion USD in Controversial Cryptocurrency

Former President Donald Trump's social media company, Trump Media and Technology Group, recently invested $300 million in a Bitcoin-related asset. The company currently holds about $2.2 billion in cryptocurrency. Trump Media Plans to Create a Cryptocurrency Reserve Fund In May, TMTG announced a plan to raise 2.5 billion dollars to buy Bitcoin in order to create a cryptocurrency reserve fund. Trump Media CEO Devin Nunes stated that this acquisition is part of the company's "Bitcoin Treasury Plan." Nunes said, "We are seriously executing the publicly announced strategy and completing our Bitcoin treasury plan." Is There a Conflict of Interest? Mr. Nick Carter, CEO of Castle Island Ventures, stated that Trump’s relationship with cryptocurrency-related companies could create conflicts of interest. In an interview, he further mentioned: "This year, President Trump has been much more aggressive in his market predictions... On our side, the presence of businesses with conflicting interests has always been a challenging issue." Prior to this, Maxine Waters, Stephen Lynch, Senator Elizabeth Warren, and several other U.S. representatives opposed Trump's growing interest in cryptocurrency and other digital assets. They argued that his involvement in the industry would create a conflict of interest and accused him of enriching himself and his family through cryptocurrency-related business activities. Defending Trump's stance on cryptocurrency, White House spokesperson Harrison Fields stated in an email that the president "has never engaged and will never engage in any conflict of interest." For those who are unaware, over the past year, Trump has increased his assets by investing in cryptocurrency, increasing by at least 620 million.