Summary:
World Liberty Financial added $47 million in Wrapped Bitcoin on Inauguration Day.
The platform now holds 456.77 WBTC, making it their third-largest asset.
Eric Trump hinted at more acquisitions the day before the purchase.
WLF's treasury exceeds $320 million in crypto assets, including AAVE and LINK.
Bitcoin reached a new all-time high of $108,786 shortly before the inauguration.
Major Purchase of Wrapped Bitcoin
World Liberty Financial (WLF), a DeFi platform associated with President Donald Trump, made headlines by adding approximately $47 million worth of Wrapped Bitcoin (WBTC) to its balance sheet on Inauguration Day. This acquisition involved 439 WBTC through 10 transactions, as the platform swapped stablecoins for Bitcoin.
Strategic Holdings
WLF now holds a total of 456.77 WBTC, making it the platform's third-largest asset after Ethereum and USDC (a dollar-pegged stablecoin). This investment reflects a significant move in the crypto market, especially during a politically charged moment.
Insights from Eric Trump
On the day before the purchase, Eric Trump, the president's son and WLF's Web3 Ambassador, hinted at upcoming acquisitions, stating, "Wait until you see what they do tomorrow!" This foreshadowing aligns with WLF's strategy, which has seen the platform acquire nearly $100 million in crypto assets in just two days.
Regular Treasury Management
WLF emphasized that these purchases are part of their routine treasury management practices, aimed at addressing working capital requirements. They disclosed that their treasury now exceeds $320 million in crypto assets, which includes substantial holdings in various tokens such as AAVE, LINK, and ENA.
Market Context
The timing of this acquisition is notable as Bitcoin reached a new all-time high of $108,786 shortly before the inauguration, currently stabilizing around $102,780. This bullish sentiment could have influenced WLF's decision to bolster its crypto portfolio significantly.
WLF's Tweet: "To commemorate the inauguration of Donald J. Trump as the 47th President of the United States, $WLFI is proud to announce the following strategic purchases today: $47,000,000 ETH, $47,000,000 wBTC, and $4,700,000 worth of Aave, LINK, TRX, and ENA."
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