CNBC's Martin Soong and Chery Kang discuss the Trump family's growing crypto holdings after Trump Media and Technology said it has amassed roughly $2 billion in bitcoin and related assets.

New York

Trump Media's stock experienced a notable increase, closing up 3.1% after the company revealed it had accumulated approximately $2 billion in bitcoin and related assets. At one point during trading, the stock surged as much as 9%, boosting former President Trump's stake in the company to nearly $2.3 billion.

The bitcoin holdings now represent about two-thirds of Trump Media's total liquid assets. This development is seen as a significant reversal for Trump, who was previously skeptical of digital currencies. Company representatives have stated that Trump can only access these assets after leaving office, addressing concerns about potential conflicts of interest.

Trump Media stock surges on bitcoin stockpile

And in other news, take a look at the shares of Trump Media closing up 3.1% just overnight. But earlier in the session, it shot up as much as 9%. This is after the group said it had accumulated around $2 billion worth of Bitcoin and related assets. Now, that stock jumped helped, of course, take President Trump's stake in the company to nearly $2.3 billion. And that, Bitcoin hoard, that is our big number of the day, $2 billion. That translates to about two-thirds of Trump Media's total liquid assets here. And I know that many are talking about potential conflict of interest here. And it is an interesting story, given that President Trump, Marty, was once very skeptical of digital currencies and so on. And just think about, think about the regulatory shift that we've had over the last couple of years. I mean, President Trump, of course, before that, there was a major crackdown on this industry and crypto assets by the Biden administration. And now, President Trump is surrounding himself with the crypto enthusiasts. And then, here we go, translating into his personal assets as well. Yeah, what a turnaround, right? What a reversal by Trump there. And I think it's worth noting that, you know, at least on paper, this is very clearly a crypto president, right? He's been talking about making America sort of a crypto country, right? But this is a crypto president, right? Probably most of his net worth, on paper at least, is in cryptocurrencies right now. It's well beyond that, just that 2.3 billion in Bitcoin, right? Yeah, and this decentralized finance entity, which is part of this digital asset this company is talking about, his people have been saying that this doesn't really lead to any conflict of interest because he can only get the assets in this particular trust when he leaves office in 2029. I wonder where Bitcoin would be in 2029, Marty? Well, it's north of 120,000 now, so we'll see, right?

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