Trump Media's Bitcoin Bet and Federal Reserve's Outlook on Stablecoins
Trump Media's Bitcoin Bet and Federal Reserve's Outlook on Stablecoins
Trump Media has significantly increased its Bitcoin holdings, reaching $1.3 billion despite reporting a Q3 loss, with plans for further acquisitions. Concurrently, a Federal Reserve Governor highlights the growing demand for stablecoins, projecting multi-trillion-dollar growth that could help reduce interest rates.
Trump Media’s first earnings report after starting its Bitcoin buys shows it scooped up $1.3 billion, with the company saying it plans to buy more.
Federal Reserve Governor Stephen Miran argued that stablecoins’ potential multi-trillion-dollar growth over the next five years will help push down interest rates.