#TrumpBitcoinEmpire The new purchase of Bitcoin for 2 billion dollars shows that cryptocurrencies are replacing real estate at the heart of Trump's business empire.

President Donald Trump has promised to make the United States the "world capital of cryptocurrencies."

President Donald Trump's media company has just acquired a reserve of the world's largest cryptocurrency. On Monday morning, Trump Media and Technology announced the acquisition of 2 billion dollars in Bitcoin and Bitcoin-related securities. They also reserved 300 million dollars to buy options on Bitcoin.

The market seemed to approve the move, as Trump's firm's stock rose 7.2% on Monday morning from the previous close. They have risen 9%, to nearly 20 dollars, over the last week. Approximately two-thirds of the nearly 3 billion dollars in the company’s liquid assets are allocated to Bitcoin.

"We are rigorously implementing our publicly announced strategy and adhering to our Bitcoin treasury plan," said Devin Nunes, president and CEO of Trump Media, in a statement. "These assets help ensure our company's financial independence."