The parent company of social media platform Truth Social, created by U.S. President Donald Trump — 'Trump Media & Technology Group' — announced on Monday that the total value of Bitcoin and Bitcoin-related assets currently held by the company has reached $2 billion.
According to a statement released on Monday, Trump Media (stock code: DJT) currently holds Bitcoin reserves that account for about two-thirds of the company's $3 billion in liquid assets. Additionally, the company has allocated $300 million for purchasing options on Bitcoin-related stocks and stated that it will 'flexibly adjust positions based on market conditions' in the future, potentially converting to spot Bitcoin.
However, Trump Media did not specify the proportion of the $2 billion allocated to spot Bitcoin, ETPs, or Bitcoin concept stocks, only stating that it will continue to purchase Bitcoin and related assets and will flexibly deploy its own capital based on market conditions for revenue growth or additional allocation to cryptocurrency assets.
(Financial Times) In May of this year, it was revealed that Trump Media plans to raise up to $3 billion to promote a series of cryptocurrency strategies. However, at that time, the company dismissed the report as 'absurd and ridiculous' and denied it. Now, with the latest statement released, it is evident that Trump Media has indeed accelerated the use of capital market resources to comprehensively layout in the cryptocurrency space.
Similarly, in May, Trump Media officially announced its entry into the cryptocurrency space, stating that it has signed private placement agreements with about 50 institutional investors, totaling up to $2.5 billion, to raise funds for building 'enterprise-level Bitcoin reserves.'
"Trump Media Bets $2 Billion on Bitcoin, Representing Two-Thirds of the Company's Liquid Assets" was first published by (Blockcast).
