Trump Family Invests $47 Million in Bitcoin through World Liberty Financial

The Trump family’s World Liberty Financial (WLFI) has invested $47 million in Bitcoin just hours before Donald Trump took office as the 47th President of the United States. According to on-chain data, the WLFI team purchased Wrapped Bitcoin, an ERC20 token backed 1:1 with the world’s flagship digital asset Bitcoin.

David Bailey, CEO of Bitcoin Magazine, announced that the U.S. President’s crypto team had started rotating its treasury into BTC. Bailey pointed out multiple purchases of WBTC, made in increments of $4.7 million, shortly before the inauguration ceremony.

“So far they’ve aped $47m into Bitcoin over the last 3 hours. Poetic,”

One transaction, as revealed by Etherscan data, involved swapping 4,700,000 USDT for over 44 WBTC on the intent-based trading protocol Cow Protocol.

Trump Family’s DeFi Project and Recent Token Purchases

The Trump family’s DeFi project, WLFI, has made several token purchases in recent days, including Ethereum, Chainlink, and Aave. However, their launch of meme coins, including TRUMP and MELANIA, has drawn mixed reactions, with some critics labeling the move a cash grab.

Bitcoin Price Movement and Market Volatility

Bitcoin spiked to a new all-time high above $109,000 as the market experienced volatility ahead of Trump’s inauguration. However, the benchmark cryptocurrency pulled back to near $103,000 after the ceremony, amid reports that the new administration did not list cryptocurrency as one of its immediate policy priorities.

Despite the pullback, several analysts remain bullish on BTC. Anticipation of a Strategic Bitcoin Reserve is a key factor supporting this optimism.

Tips for Navigating Market Volatility

  • Stay informed about market trends and news that may impact cryptocurrency prices.
  • Diversify your investment portfolio to minimize risk.
  • Consider long-term investment strategies, as market fluctuations can be unpredictable.

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