📰 Trump Media invests $2 billion in Bitcoin
The media company Trump Media and Technology Group (TMTG), owner of the social network Truth Social and associated with the family of former U.S. President Donald Trump, announced the acquisition of bitcoins and related securities worth $2 billion. These assets now account for about 66% of the company's total liquid assets, which are estimated at $3 billion.
The company intends to continue active purchases of bitcoin assets and convert options into spot bitcoin depending on market conditions. TMTG head Devin Nunes noted that bitcoin will become the foundation of the company's financial independence and help avoid discrimination from financial organizations.
Since the beginning of the year, Trump Media has been expanding its activities in the cryptocurrency sector, launching the Truth.Fi division and partnering with the cryptocurrency exchange Crypto.com to create exchange-traded products.
The current price of bitcoin is about $118.8 thousand, which is 3.9% lower than the recent peak.
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