Donald Trump Celebrates 47th Presidency with $47 Million Bitcoin Investment
The post Donald Trump Celebrates 47th Presidency with $47 Million Bitcoin Investment appeared first on Coinpedia Fintech News
The inauguration of President-elect Donald Trump became one of the biggest events for the cryptocurrency community, as everyone eagerly awaited Trump’s words to see if he would mention anything related to crypto. During the event, rumors circulated that Trump’s World Liberty organization had made significant purchases of Bitcoin (BTC) and Ethereum (ETH).
Trump’s World Liberty Buys $47 Million Worth of BTC
This was later confirmed by Arkham, a blockchain-based security firm, and Michael Saylor, the founder and chairman of MicroStrategy.
On January 20, 2024, in a post on X (formerly Twitter), Arkham revealed that Trump’s World Liberty had purchased a significant $47 million worth of Bitcoin (BTC) and $47 million worth of Ethereum (ETH) to celebrate Trump’s inauguration as the 47th President of the United States of America.
Donald Trump’s Recent Crypto Purchase
This substantial purchase of BTC and ETH highlighted the beginning of the “Crypto President” era. In addition to the recent acquisitions, Trump’s World Liberty also purchased 177,928 LINK worth $4.7 million, 19.3 million TRX worth $4.7 million, 13,261 AAVE worth $4.7 million, and 507,000 ENA worth $470,000 ahead of the inauguration.
The purchase value of each cryptocurrency highlights the 47th U.S. President’s pro-crypto stance.
Despite the substantial crypto purchases, the overall cryptocurrency market appears to be experiencing a price drop. This seems to be due to profit booking, however, some whales are taking advantage of the current market sentiment and price decline by making multi-million-dollar crypto purchases.
Currently, BTC is trading near $103,210, having experienced a price drop of 1.80% in the past 24 hours. Meanwhile, ETH is trading around the $3,350 level, with a price decline of 2.25% during the same period.
