An investment company with links with the sons of the American president Donald Trump, Eric and Donald Trump Jr., puts part of his cash excess in a fund (ETF) on Bitcoin, an unusual touch of the increasingly popular strategy of Bitcoin detention as a business reserve.
Dominari Holdings (DOMH), located in Trump Tower in New York, made the headlines last month after the Trump brothers joined his 58 -year -old board of directors and became investors.
On Friday, in a profits report, he announced that he would adopt a Bitcoin reserve strategy and would invest part of his cash reserves in Ishares Bitcoin Trust (IBIT) in BlackRock, the largest Spot Bitcoin Etf on the market.
According to the report, Dominari has hired $ 2 million to buy Ibit shares to date. The action has a market capitalization of around $ 70 million and dropped by more than 9% during the negotiations on Friday.
Most companies that adopt a Bitcoin reserve strategy buy cryptocurrency and self-conk or use a goalkeeper. Dominari rather wins an exposure thanks to a regulated stock market fund, a decision that could use businesses looking for easier compliance and cleaner accounts.
This decision is not surprising, given the interest of Donald Trump Jr. for the crypto. The president’s son is involved in many crypto projects and has become an unofficial spokesperson for his father’s enthusiasm.
Just earlier this week, World Liberty Financial (WLFI), the financial protocol supported by President Donald Trump and his family, presented his own stablecoin during a crypto event in Washington.
