Here's your Forbes Daily Briefing for Saturday, June 14th.

Today on Forbes, crypto now accounts for most of Donald Trump's net worth.

Donald Trump was a real estate developer, then a TV character, then a social media mogul.

Now, he's a crypto kingpin.

A majority of his fortune, an estimated $3.3 billion of his total $5.5 billion, lies in the

Buzzy industry, which the president has tapped for cash and worked to promote.

So perhaps that's something to celebrate in addition to today, Saturday, June 14th, also being President Trump's 79th birthday.

The latest shift occurred last month when the Trump Media and Technology Group announced

a change in its business strategy. The venture started as a social media effort, releasing

Truth Social to give Trump a platform after Twitter and Facebook booted him.

Truth Social never turned into much of a business,

generating about $4 million of revenue and more than $100 million of losses a year.

Investors flocked to Trump Media and Technology Group nonetheless, valuing the publicly traded firm

at $5.7 billion. With little to back up that valuation, the company

announced a plan last month to bolster its balance sheet by accumulating Bitcoin. About 50

institutional investors handed over more than $2 billion in a stock-and-debt deal to allow Trump's

business to purchase crypto. Given that the truth social business is so small, the new plan immediately transformed

Trump's company from a social media play to a Bitcoin bet.

The president's stock in the company is worth $2.4 billion, accounting for roughly 45% of his

overall fortune.

Trump has other crypto ventures as well. He got into the space in 2022,

launching cartoonish digital trading cards, which sold out almost immediately, and routed more than

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