From Billionaires to Market Spectators
The Trump family’s wealth portfolio has encountered a setback over the past two months. According to Bloomberg data, the family’s total assets have fallen from $7.6 billion to $6.6 billion, a decrease of $1 billion, and have even dropped out of the Forbes Global 500 list. Behind this rapid decline is the cost of the family’s hefty bets in the cryptocurrency sector.
The Cost of Investment Decisions
The aggressive expansion of Trump Media & Technology Group has been the main source of these losses. The company purchased 11,500 Bitcoins over the past few months at an average price of $115,000 per Bitcoin, with a total investment of over $2 billion. However, as Bitcoin’s price dropped from its October high of $125,000 to around $90,900 currently, this investment has already shrunk by over $800 million.