Dominari Holdings, linked to the Trump family, adopts a bitcoin reserve strategy by investing $2 million in BlackRock’s iShares Bitcoin Trust shares, simplifying compliance and accounting processes.
Dominari Holdings Invests $2 Million in BlackRock‘s Bitcoin ETF
Dominari Holdings, an investment firm linked to Donald Trump Jr. and Eric Trump, has adopted a bitcoin reserve strategy by buying $2 million worth of “$2 million” worth of BlackRock’s iShares Bitcoin Trust (IBIT) shares.
Why the Unconventional Approach?
Most companies that adopt a bitcoin reserve strategy buy the cryptocurrency outright and self-custody it or use a custodian. Dominari is instead gaining exposure through a regulated exchange-traded fund, a move that may appeal to firms looking for easier compliance and cleaner accounting.
Simplifying Compliance and Accounting
By using a regulated ETF, Dominari can simplify its compliance and accounting processes. This approach may be more appealing to firms that want to avoid the complexities of directly holding bitcoin as a corporate reserve.
Growing Political Family Ties to Crypto
The move underscores growing political family ties to crypto as the Trump orbit continues pushing into digital assets. “Donald Trump Jr.’s interest in crypto is well-documented, and his involvement with World Liberty Financial’s stablecoin project just earlier this week highlights the increasing influence of the Trump family on the cryptocurrency space.”
Donald Trump Jr. is an American businessman and politician, best known as the eldest child of Donald Trump, the 45th President of the United States.
Born on December 31, 1977, in Queens, New York, he has been involved in various business ventures, including real estate and mining investments.
In 2016, he served as a key advisor to his father's presidential campaign.
He has also been involved in several controversies, including the release of emails related to the '2016 election'.
Trump Jr. is married with five children.
A Bitcoin Reserve Strategy for Dominari Holdings
Dominari has committed $2 million to buy shares of IBIT as of now. The stock has a market cap of about $70 million and has fallen more than 9% on Friday’s trading. By investing in a regulated ETF, Dominari is gaining exposure to bitcoin without directly holding the cryptocurrency.
Conclusion
Dominari Holdings’ adoption of a bitcoin reserve strategy using BlackRock‘s iShares Bitcoin Trust (IBIT) shares marks an unusual twist on the increasingly popular strategy of holding bitcoin as a corporate reserve. The move highlights growing political family ties to crypto and demonstrates the Trump orbit’s continued influence in the digital assets space.
The Trump family is a prominent American family known for their business and political endeavors.
The patriarch, Fred Trump, built a real estate empire in New York City.
His children, including Donald, Ivanka, Eric, and Tiffany, have followed in his footsteps.
Donald Trump, the 45th President of the United States, has been at the center of controversy and media attention.
The family's business dealings and personal lives have been subject to scrutiny, with various members involved in politics, entertainment, and entrepreneurship.
