Trump Media's $293M Bitcoin Bet: Can it Push BTC Above $65K?

The price of Bitcoin (BTC) has been hovering around $65K for the past month, but some institutions are still accumulating the asset. One such example is Trump Media, which added 4,662 BTC to its holdings in Q2, valued at over $293 million.

This strategic shift towards Bitcoin comes after Trump Media posted a loss of $238 million in Q2, ten times bigger than one recorded a year ago. Whether this bet can offset the company's loss remains uncertain.

The spot CVD showed strong demand alongside institutional inflows and easing downside hedging during this period of stagnation around $65K. However, there was subdued spot liquidity and weak network activity, making the recovery tentative.