Trump Media Has Acquired $2 Billion Worth of Bitcoin

Trump Media and Technology Group (or just Trump Media for convenience) – the company closely associated with the family of the acting president Donald Trump – has accumulated around $2 billion worth of BTC.

• According to a recent release, Trump Media now holds approximately $2 billion worth of BTC and bitcoin-related securities. It’s not clarified what the related securities are, but it could be ETFs.
• The company has approximately $3 billion in liquid assets, which means that the share of bitcoin-related products accounts for around two thirds of it all.
• Commenting on the matter was President Devin Nunes, who 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 discrimantion by financial institutions, and will create synergies with the utility token we’re planning to introduce across the Truth Social ecosphere.

• Trump Media operates Truth Social – the platform used by President Donald Trump to make announcements, currently bringing in over 32 million users per month, according to SimilarWeb.
• As CryptoPotato previously reported, Trump Media has previously filed to launch a spot Bitcoin and Ethereum exchange-traded fund.
• If approved, the vehicle will hold BTC and ETH directly in a ratio of 75/25.