News reports or official announcements from regulatory bodies

Trump's World Liberty Financial Swaps $TRUMP Coin for $47 Million in Wrapped Bitcoin on Inauguration Day

Jan 20, 2025, 05:53 PM

President Donald Trump's company, World Liberty Financial, has purchased $47 million worth of Wrapped Bitcoin (WBTC), coinciding with his inauguration as the 47th President of the United States. According to reports, including one from Michael Saylor, the company conducted multiple transactions, totaling approximately $47 million, including nine purchases of 44 WBTC each. The acquisition involved swapping $TRUMP coin for WBTC. The decision to invest in Wrapped Bitcoin, a tokenized version of Bitcoin on the Ethereum blockchain, has drawn attention, especially as some observers note it is not "real" Bitcoin. The move signifies a major entry by the President's financial enterprise into the cryptocurrency market.