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-- 50.790 DJT Shares Jump 17% After FT Reports It's in Talks to Buy Crypto Trading Venue Bakkt
$Trump Media & Technology (DJT.US)$ shares jumped almost 17% Monday, erasing earlier declines after the Financial Times reported that the social media company is in talks to buy crypto trading venue Bakkt, owned by $Intercontinental Exchange (ICE.US)$.
The stock of the company that's 53% owned by President-elect Donald Trump climbed to $32.78, erasing declines of as much as 5.5% earlier. $Bakkt Holdings (BKKT.US)$ shares more than doubled to close at $29.71 at close in New York Monday.
A potential deal could give Trump Media exposure to cryptocurrencies. Bitcoin prices climbed 150% this year, surging past $90,000 amid optimism that the incoming president will implement a pro-crypto policy when he takes over the White House in January.
Trump's team has touted the idea of setting up a strategic national Bitcoin stockpile. Republican Senator Cynthia Lummis of Wyoming is pushing for a legislation that calls for the U.S. government to acquire 1 million Bitcoin by selling the Federal Reserve's gold holdings, Bloomberg reported.
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Luzi Ann Santos
Moomoo Senior News and Community Manager
Former editor at Bloomberg, ex-commentary editor at Lazard. Posts aren’t investment advice. Views are just mine.
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73006551 : This is huge.
72385295 : So glad to be hanging on to DJT stock!
This has even Bigger Gain consequences!
Adrianlim90 : 1
71707650 : why not just buy it with the funny money USD they keep lending into existence and charging interest (usery) to the American people and keep the gold too? End the Fed, all wars are bankers wars!