Trump Media and Technology Group Corp, the company behind Truth Social, Truth+, and Truth. Fi, has announced that it has invested about $2 billion in Bitcoin and related securities. This equals to roughly 17,000 BTC at current prices, which marks a bold step in its ongoing Bitcoin treasury strategy.
This massive crypto stash now makes up about two-thirds of the company’s $3 billion in liquid assets. In addition to this, Trump Media has also put aside around $300 million to buy bitcoin options. The company plans to keep buying more bitcoin and related assets, and may convert these options into actual bitcoin depending on market conditions. These assets will help generate revenue and could be used to buy even more crypto in the future.
Trump Media’s CEO and President Devin Nunes said, “We’re rigorously implementing our publicly announced strategy and fulfilling our bitcoin treasury plan. These assets help ensure our Company’s financial freedom, help protect us against discrimination by financial institutions, and will create synergies with the utility token we’re planning to introduce across the Truth Social ecosphere.”
The CEO noted that holding these assets can help protect against unfair treatment by banks and will also support the new utility token they’re planning to launch on Truth Social.
DJT shares jumped 6.5% after the news.
Previously, Trump Media had announced a $400 million share buyback program. It was clarified that this would not impact Trump Media’s $2 billion bitcoin treasury strategy, which remains fully intact.
The buyback follows the company’s $2.5 billion private funding round involving around 50 institutional investors. The capital is being used to build a bitcoin treasury, with Crypto.com and Anchorage Digital handling custody services.
With $2 billion already in BTC and more buys planned, the company is clearly embracing Bitcoin as a core strategic reserve. Bitcoin is currently trading at $118,993, up 0.5% in the last 24 hours.
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