Trump Media Buys $2 Billion in Bitcoin and Related Securities!!! This Number Will Grow Strongly.
Trump Media has invested about $2 billion in Bitcoin and related securities, equivalent to about 17,000 BTC, indicating a strong move in the company's Bitcoin accumulation strategy.
Trump Media Aims to Buy More Crypto
Trump Media's crypto holdings currently account for about two-thirds of its total $3 billion in liquid assets, including $300 million in Bitcoin options.
The company plans to continue buying more Bitcoin, both to generate revenue and to support its strategy of launching a utility token on the Truth Social ecosystem.
CEO Devin Nunes asserted that holding digital assets helps protect against financial discrimination and discrimination from the banking system.
DJT shares rose 6.5% on the news.
Trump Media Increases Investment in Bitcoin
Trump Media has announced a $400 million stock buyback program, but insists it will not affect its $2 billion Bitcoin investment strategy.
The funds come from a $2.5 billion private funding round with around 50 investors, and will be used to build a Bitcoin treasury managed by Crypto.com and Anchorage Digital.
With plans to continue buying more, Bitcoin is being viewed by the company as a core strategic reserve asset.
BTC is currently at $118,993, up 0.5% in 24 hours.
