On Jan. 21, Donald Trump Junior announced the purchases to “commemorate the inauguration of Donald J. Trump as the 47th President of the United States.”
The family’s World Liberty Finance DeFi platform has made several “strategic purchases,” including $47 million worth of wrapped Bitcoin (wBTC) and $47 million worth of Ethereum.
There were also $4.7 million batches of Aave (AAVE), Chainlink (LINK), Tron (TRX), and Ethena (ENA) to mark the milestone.
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
$4,700,000 Aave
$4,700,000 LINK
$4,700,000 TRX
$4,700,000 ENAExcited for the…
— Donald Trump Jr. (@DonaldJTrumpJr) January 21, 2025
Waiting on Strategic Reserve
However, it’s “Not quite the Strategic Reserve everyone is looking for,” commented Bloomberg’s ETF analyst James Seyffart, while investor Zack Voell called it “the strategic wrapped Bitcoin reserve.”
Bitcoin Magazine CEO David Bailey commented, “Trump’s crypto team has started rotating their treasury into Bitcoin in $4.7m slugs!”
Meanwhile, Tether strategy advisor Gabor Gurbacs commented on the lack of crypto acknowledgment in Trump’s speech:
“Donald Senior could have just mentioned Bitcoin once in his speech. Bitcoiners have done a lot to get him elected and make it all possible.”
President Trump has already started signing executive orders after taking office on Monday. However, he had yet to sign the one the entire crypto industry is waiting for – his proposed Bitcoin strategic reserve.
World Liberty Finance has been loading up on Ethereum lately, and its portfolio is heavy on the asset, with almost 57,000 ETH worth around $184 million representing more than half of its holdings, according to Arkham.
The platform sold out of WLFI tokens this week but restarted the sale with a further 5% of the supply, or 5 billion tokens, priced at $0.05, up from the initial token presale price of $0.015 for the first 20 billion.
The platform had sold 22 billion of the total 25 billion illiquid tokens on offer, according to the official website at the time of writing.
Crypto Markets Take a Breather
Total market capitalization has declined over the past few hours to $3.64 trillion as markets cooled following the inauguration hype.
Bitcoin reached a new all-time high of $109,400 on Monday before retreating to $102,000 during the Tuesday morning Asian trading session.
Ethereum could only manage a move to $3,430 before it slipped again, as it has been doing for months. ETH was trading at around $3,250 at the time of writing.
The altcoins were a mixed bag, and Trump’s recently launched namesake meme coin, TRUMP, was dumping hard with a 30% loss on the day in a fall to $32 following a wave of criticism from crypto industry experts and observers.
Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).
LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!
