Trump Media (Nasdaq, NYSE Texas: DJT) has announced that as of today, it holds $2 billion in Bitcoin and Bitcoin-related securities. The company did not provide details as to the specific securities.
Trump Media announced earlier this year its intent to pursue a Bitcoin treasury strategy and raised money to do so.
Trump Media is the operator of Truth Social and is also pursuing crypto ETFs. The company has benefited from its association with President Donald Trump and his administration, which is supportive of digital asset innovation. This is in contrast to the Biden Administration, which sought to undermine the crypto sector and the potential benefits the technology may deliver to consumers and businesses.
Trump Media noted that it now holds $3 billion in liquid assets, including Bitcoin. An additional $300 million has been allocated to the options acquisition strategy for Bitcoin-related securities.
The company stated that it would continue to acquire Bitcoin and Bitcoin-related assets, depending on market conditions. These assets will be used to generate revenue and potentially acquire other crypto assets.
Trump Media’s CEO and President, Devin Nunes, said they are implementing their publicly announced strategy.
“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.”
Bitcoin is currently trading at around $117,000 – up for the year but down slightly from its all-time high of over $122,000.