Crypto

Trump crypto team buys $47m BTC

U.S. President Donald Trump’s crypto staff has moved $47 million in treasury funds into Bitcoin, in keeping with on-chain information.

Particularly, the Trump household’s World Liberty Monetary (WLFI) invested $47 million into Bitcoin (BTC). The staff bought Wrapped Bitcoin (WBTC), an ERC20 token backed 1:1 with the world’s flagship digital asset Bitcoin (BTC). This transaction occurred simply hours earlier than Trump took the oath of workplace on January 20, 2025, to develop into the forty seventh President of america.

David Bailey, CEO of Bitcoin Journal, shared through X that the U.S. President’s crypto staff had begun rotating its treasury into BTC. He highlighted a number of purchases of WBTC, made in increments of $4.7 million, shortly earlier than the inauguration ceremony.

“To this point they’ve aped $47m into Bitcoin during the last 3 hours. Poetic,” Bailey posted.

In a single such transaction, Etherscan information showed the staff swapped 4,700,000 USDT for over 44 WBTC. The swap occurred on the intent-based buying and selling protocol Cow Protocol.

The Trump household’s DeFi venture, WLFI, has made a number of token purchases in latest days, together with Ethereum, Chainlink and Aave. Nevertheless, their launch of meme cash, together with TRUMP and MELANIA, has drawn blended reactions, with some critics labeling the move a money seize.

Bitcoin spiked to a new all-time high above $109,000 because the market skilled volatility forward of Trump’s inauguration. Nevertheless, the benchmark cryptocurrency pulled again to close $103,000 after the ceremony, amid reviews that the brand new administration did not list cryptocurrency as certainly one of its quick coverage priorities.

Regardless of the pullback, which some attribute to a “promote the information” situation, a number of analysts stay bullish on BTC. Anticipation of a Strategic Bitcoin Reserve is a key issue supporting this optimism.

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