US President Donald Trump’s Bitcoin funding, coupled with the latest cryptocurrency market crash, has led to a big lack of his private wealth. In accordance with Forbes, Bitcoin’s drop under $100,000 as we speak negatively impacted Trump’s large-scale BTC purchases over the summer time.
Trump, who had lengthy been skeptical of cryptocurrencies, instantly circled in the summertime of 2024, changing into a “main crypto advocate.” Trump Media & Expertise Group (TMTG) bought roughly $2 billion value of Bitcoin in July, with the common buy value estimated at $115,000 per coin.
What initially appeared like an affordable funding took a flip for the more severe within the final month, with the value of Bitcoin falling 17%. TMTG shares additionally misplaced 24% of their worth throughout the identical interval. This double decline has decreased Trump’s private wealth by roughly $490 million, based on Forbes calculations.
Trump’s sons, Donald Trump Jr. and Eric Trump, have been on stage because the funding announcement was made public. Don Jr. famous that Bitcoin had risen 57% in a 12 months and predicted an additional 35–60% improve in worth. Eric Trump additionally predicted a 55% annual improve.
Half a 12 months later, these predictions are beginning to look overly optimistic. Bitcoin is down about 12% since TMTG’s July buy.
In 2019, Trump described Bitcoin as “not cash, simply air, and intensely unstable.” Nevertheless, with the rise of crypto assist within the 2024 elections, the narrative shifted dramatically. At an occasion in Nashville, he praised crypto builders, saying, “You are like the fashionable Edisons, Wright brothers, Carnegies, and Henry Fords.”
*This isn’t funding recommendation.
