How Trump has made a fortune off crypto despite Bitcoin price slump | The Business | ABC NEWS

By ABC News (Australia)

Community Score: 50% | 1.8K views | 1w

0 community ratings: null thumbs up, null thumbs down

The price of Bitcoin has halved since its peak in October 2025 to around $US63,000. ABC's chief business correspondent Ian Verrender says as Bitcoin becomes rarer, it becomes harder and more expensive to mine at a time when the price is going down. Mr Verrender says miners use vast amounts of computing power and huge amounts of electricity to mine Bitcoin, and many of them are switching to become data centres because of the AI boom. Mr Verrender says there is also a lot of big institutions selling off the cryptocurrency, including Michael Saylor's company Strategy. Just 18 months ago, he declared "never sell your Bitcoin", but last month he began selling small parcels and then, last week, he authorised a program to unload up to $US1.25 billion of its reserves if need be. Despite the slump in cryptocurrencies, there has still been some winners, including Donald Trump. According to filings released, the US President and family reaped a $US1.4 billion bonanza from crypto ventures

Tags: Australia, abc, abc news, news, business news, finance news, economic news, economy, finance, the business, abc news australia, the business abc, crypto, cryptocurrency, bitcoin, Donald trump, bitcoin mining, AI, AI boom, data centres