World Liberty Financial (WLF) made another crypto purchase shortly after the swearing-in of Donald Trump as the 47th president of the United States.
Arkhan reported that the crypto project, which has a connection with the president’s family, bought $4.7 million worth of wrapped bitcoin.
This has not been the sole investment from the team as between Sunday afternoon and late evening, WLF spent a whopping $48 million for 14,403 Ethereum (ETH) tokens at an average price level of about $3,300 per token.
This purchase has made its total Ethereum reserves double, increasing their total ETH holdings to 33,630 tokens, for a total approximate value of $109 million.
A lot of talk started surrounding this acquisition. People showed interest when Eric Trump, Donald Trump’s son and advisor to WLF, started posting vague teasers of the upcoming coins on X. “Wait until you see what they do tomorrow.” he said
Although nothing concrete was shared with the public, the purchase occurred alongside a lot of Trump’s affiliated crypto controversies. These included Melania Trump’s launch of Melania Meme, alongside the TRUMP meme coin, which has created confusion in the market.
WLF purchased Ethereum as a way to diversify its investments. Apart from Ethereum, the company also spent approximately $4.7 million each on tokens like Wrapped Bitcoin (WBTC), Tron (TRX), Chainlink (LINK), Aave (AAVE), and Ethena (ENA). The only exception was Ethena, for which WLF invested $2.3 million. In fact, the company’s crypto holding now exceeds over $280 million.
Meanwhile, Bitcoin prices saw a surge today and hit a new All time high of $109,500. It has seen about a 12% rise today with a 139% increase in market cap, according to data from CoinMarketCap.
Also Read: Bitcoin Turns Volatile as Trump Sworn In as President
