📰 Trump Media reports $410 million profit thanks to Bitcoin holdings $BTC
📌 Trump Media & Technology Group, the company behind the Truth Social network, just reported a third-quarter profit of $409.7 million. This marks a major turnaround from a loss of $54.8 million in the same period last year. However, its main source of income came not from media or technology, but from the increased value of its cryptocurrency investments.
📌 According to its SEC filing, the company recorded realized and unrealized gains of up to $496.1 million from digital assets, collateralized cryptocurrencies, and equity securities. Digital assets and collateralized coins contributed $378.1 million, while securities contributed $118 million. The main driver was Bitcoin, which rose approximately 42% during the quarter, from $59,000 at the end of June to $84,000 at the end of September.
💬 What do you think about this development? Let’s discuss!
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🔗 Source: Decrypt
⚠️ This information is for reference only and is not investment advice. Do your own research before making a decision (DYOR).
📌 Trump Media & Technology Group, the company behind the Truth Social network, just reported a third-quarter profit of $409.7 million. This marks a major turnaround from a loss of $54.8 million in the same period last year. However, its main source of income came not from media or technology, but from the increased value of its cryptocurrency investments.
📌 According to its SEC filing, the company recorded realized and unrealized gains of up to $496.1 million from digital assets, collateralized cryptocurrencies, and equity securities. Digital assets and collateralized coins contributed $378.1 million, while securities contributed $118 million. The main driver was Bitcoin, which rose approximately 42% during the quarter, from $59,000 at the end of June to $84,000 at the end of September.
💬 What do you think about this development? Let’s discuss!
#CryptoNews
🔗 Source: Decrypt
⚠️ This information is for reference only and is not investment advice. Do your own research before making a decision (DYOR).