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The media company of President Donald Trump has just acquired a reserve of the largest cryptocurrency in the world.
On Monday morning, Trump Media and Technology announced the acquisition of 2 billion dollars in Bitcoin and Bitcoin-related securities.
They also allocated 300 million dollars to purchase options on Bitcoin.
The market seemed to approve of the move, as shares of Trump's firm rose 7.2% on Monday morning from the previous close. They have increased by 9%, to nearly 20 dollars, over the past week.
Approximately two-thirds of the nearly 3 billion dollars in liquid assets of the company are allocated to Bitcoin.
#TRUMP
