Trump May Soon Enter in Crypto Payment Segment through His Social Media Company, Bitcoin

There is excitement in the crypto market after Donald Trump’s victory in the presidential election in America. The price of Bitcoin, the largest cryptocurrency in terms of market value, has reached close to one lakh dollars. A policy for this segment can be brought in America after the new Trump-led government takes charge next year. Trump’s social media company Truth Social is also likely to launch a crypto payment platform soon.

a media Report It was reported that earlier this week, Trump Media & Technology Group has filed a trademark application for crypto payment service TruthFi. It has been told in this application that this business may include card payment processing, asset management, custody service and trading in digital assets. The entry of Trump, one of America’s biggest businessmen, into the crypto segment has intensified speculations about the new government making a policy in favor of this segment.

Recently, a Reuters report said that Trump’s social media company is in talks to buy crypto trading firm Bakkt. Bakkt can be purchased by taking full equity from Truth Social, a unit of Trump Media and Technology Group. During the election campaign, Trump had indicated not to make strict regulations for this segment. There are a large number of people investing in the crypto market in America. These investors are also expected to contribute to Trump’s victory.

Institutional investors are also betting in this segment. Enterprise software maker MicroStrategy has a large investment in Bitcoin. This American company had recently purchased bitcoins worth $4.6 billion. Even before this, MicroStrategy had a large reserve of this most popular cryptocurrency. The company’s investors have also supported increasing investment in Bitcoin. The chairman of this company, Michael Saylor, had decided to invest in Bitcoin as a hedge against inflation. Initially this company used to buy bitcoins in exchange for cash. However, since then it has been using the proceeds from the sale of shares and convertible debt to buy Bitcoin.