“Donald Trump’s ( TMTG ) social network is in talks to buy Bakkt, a cryptocurrency trading platform, as it looks to expand beyond online communication.”, — write: www.epravda.com.ua
Donald Trump’s ( TMTG ) social network is in talks to buy Bakkt, a cryptocurrency trading platform, as it looks to expand beyond online communication.
About this informs Financial Times.
US President-elect Trump’s company, in which he has pledged to keep his 53% stake, is closing in on buying all of Bakkt.
It is noted that the market capitalization of Bakkt was slightly more than 150 million dollars.
TMTG, which operates Truth Social, has become one of the most actively traded US stocks since Trump’s election victory, as retail investors seek to capitalize on its often volatile trading movements.
Although TMTG only made $2.6 million in revenue this year, it is valued at $6 billion, giving its management valuable currency to buy other companies.
Bakkt shares soared 162% after the talks were announced. TMTG shares are up about 16.7%.
We will remind:
Bitcoin updated the all-time high of the price and reached a peak of $82394 on expectations of favorable regulation after the election of Donald Trump as the President of the United States and supporters of cryptocurrencies to Congress.
Bitcoin for a short time took off above 93 thousand dollars, as expectations of a further reduction in interest rates by the Federal Reserve added momentum.
Shares of Trump Media & Technology Group have grown after US President-elect Donald Trump said he has no intention of selling his stake in the company that owns his social network Truth Social.