Here’s why Trump Media stock price is soaring today

The announcement comes just days after President Trump signed the GENIUS Act, the countrys first comprehensive crypto legislation. Market enthusiasm surrounding the bill helped propel the total crypto market capitalization to a record $4 trillion, and Bitcoin briefly touched $118,831 on Monday.

Bitcoin millionaires surge in Trumps first six months

The companys pivot toward crypto is also unfolding against a backdrop of rising Bitcoin wealth among American investors. Finbold Research recently reported that over 15,000 new Bitcoin millionaires were added in the first six months of Trumps presidency, bringing the total to 192,205 as of July 20.

Since his election victory in November 2024, more than 59,000 new millionaire wallets have emerged, suggesting growing adoption and price appreciation in tandem.

Trump Media‘s strategic allocation mirrors a growing trend among public companies seeking to hedge against inflation and capitalize on Bitcoin’s long-term growth. The firm‘s openness to converting its derivatives exposure into spot BTC signals confidence in sustained upward momentum for the world’s largest cryptocurrency.

As crypto markets continue to respond to regulatory clarity and institutional adoption, DJTs latest move could set a precedent for other media or tech firms seeking relevance in the digital asset economy.