Trump Family Loses $1 Billion on Ill-Timed Bitcoin Bet

The former president's sons made a massive crypto wager that backfired as bitcoin prices plummeted.

Apr. 13, 2026 at 4:41pm

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A highly detailed, industrial close-up of a complex network of metal gears, levers, and machinery in shades of grey and blue, conceptually representing the intricate inner workings of a powerful financial institution.The Trump family's massive crypto bet exposed the risks of leveraged investments in volatile digital assets.Washington Today

In 2025, following Donald Trump's reelection, his sons Donald Trump Jr. and Eric Trump made a massive $2.4 billion bet on bitcoin through the family's media company, Trump Media and Technology Group. Confident that bitcoin would rise over 50% in the next year, the Trump heirs invested heavily in the cryptocurrency at the top of the market. However, bitcoin prices soon stalled and then plummeted, leaving Trump Media with an estimated $1 billion loss on its crypto holdings.

Why it matters

This story highlights the risks of making highly leveraged bets on volatile assets like cryptocurrencies, especially at the peak of a market cycle. The Trump family's ill-timed bitcoin wager underscores how even the wealthy and powerful can suffer significant financial losses when they fail to time the market correctly.

The details

In May 2025, shortly after Donald Trump's reelection, his sons Donald Trump Jr. and Eric Trump announced that Trump Media and Technology Group would be making a massive $2.4 billion bet on bitcoin. Confident that the cryptocurrency would rise over 50% to $170,000 within a year, the Trump heirs sold $1.4 billion in stock and $1 billion in convertible bonds to fund the purchase. However, bitcoin prices soon stalled and then plummeted, leaving Trump Media with an estimated $1 billion loss on its crypto holdings by early 2026.

  • In May 2025, Trump Media announced a $2.4 billion investment in bitcoin.
  • By July 2025, Trump Media had completed its bitcoin purchases as the price hit $119,000.
  • In late November 2025, a broader market dip pulled down bitcoin and other cryptocurrencies, leaving Trump Media's crypto assets worth an estimated $1.8 billion.
  • In January 2026, Federal Reserve Chair Jerome Powell's interest rate signals caused bitcoin to drop 5% in a day, reducing Trump Media's holdings to an estimated $1.7 billion.

The players

Donald Trump

The former president of the United States, who placed his 52% stake in Trump Media and Technology Group into a trust controlled by his sons.

Donald Trump Jr.

The son of former President Donald Trump, who helped manage the family's business and oversaw the $2.4 billion bitcoin investment.

Eric Trump

The son of former President Donald Trump, who joined his brother in promoting the family's bullish bitcoin predictions.

Trump Media and Technology Group

The media company founded by the Trump family, which made the $2.4 billion investment in bitcoin and other cryptocurrencies.

Jerome Powell

The chair of the Federal Reserve, whose interest rate signals in January 2026 contributed to a drop in bitcoin prices.

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What they’re saying

“I think [bitcoin] clears $170,000.”

— Eric Trump

“I was going to say between 175 and 150.”

— Donald Trump Jr.

“Our bitcoin holdings reflect a long-term investment in this revolutionary digital currency, which we do not judge based on temporary, cyclical downturns.”

— Shannon Devine, Spokesperson, Trump Media and Technology Group

What’s next

The Trump family's crypto losses are likely to face increased scrutiny, with questions arising about the risk management practices and investment strategies of Trump Media and Technology Group.

The takeaway

This story serves as a cautionary tale about the dangers of making highly leveraged bets on volatile assets like cryptocurrencies, especially at the peak of a market cycle. The Trump family's ill-timed bitcoin investment highlights how even the wealthy and powerful can suffer significant financial losses when they fail to time the market correctly.