Trump Media Leads with $2 Billion Bitcoin Purchase🎉🎉🎉🎉
Trump Media & Technology Group (DJT) backed by Donald Trump announced that they purchased Bitcoin (BTC) and Bitcoin-related securities worth $2 billion, according to a press release on Monday. The company's Bitcoin holdings now represent two-thirds of $3 billion in liquid assets, reflecting their new reserve model for acquiring crypto assets.
"We are implementing the publicly announced strategy and strictly adhering to our [B]itcoin treasury plan," said Trump Media's CEO and President, Devin Nunes, in the press release.
Trump Media also allocated an additional $300 million in capital for the option acquisition strategy for Bitcoin-related securities. The company stated that they will continue to acquire Bitcoin and generate revenue to expand their reserves with additional cryptocurrencies.
"These assets help ensure the financial freedom of our Company, help protect us from discrimination by financial institutions, and will create synergies with the utility token we plan to introduce across the Truth Social ecosystem," Nunes added.
