Trump Media invests $2 billion in Bitcoin
US President Donald Trump's media and technology company has acquired about $2 billion in Bitcoin and related assets, underscoring his administration's accelerating pivot toward cryptocurrencies.
The Trump family has increasingly aligned with the crypto industry through new ventures, investments, and public endorsements in recent months.
On Monday, Trump Media - the firm behind the Truth Social platform - announced the acquisition, saying another $300 million in capital has been allocated to an options-based Bitcoin strategy, and signaling that it may convert the options into cryptocurrency depending on market conditions.
The assets will be used "to generate revenues and potentially to acquire additional crypto assets," CEO and President Devin Nunes said. Crypto now accounts for about two-thirds of the firm's $3 billion in liquid holdings.
The purchase is part of Trump Media's 'Bitcoin treasury plan', which involves buying and holding digital assets - similar to how companies stockpile bonds - to increase liquidity and financial flexibility.
Trump Media shares soared nearly 10% following the announcement. Trump, who placed his shares in a revocable trust managed by Donald Trump Jr., maintains a major stake valued at around $2.3 billion.
Once a crypto skeptic, Trump reversed course during the 2024 campaign, pledging to make the US the "crypto capital of the world" and to serve as its "crypto president." Since returning to the White House, he has backed several family-led ventures in the space, including World Liberty Financial - a decentralized finance project that has brought in $500 million since launching in September.
As part of the new US 'strategic reserve' of crypto assets unveiled in March, Trump signed the GENIUS Act last week - the country's first major law regulating digital currency.
Critics have claimed that the overlap between Trump's crypto ventures and his political authority could result in widespread corruption.
Trump Media's announcement came less than a week after Bitcoin hit a record high, topping $120,000 - reinforcing its position as the world's most valuable and widely held cryptocurrency. Analysts attributed the rally to surging institutional demand and a shift in US policy under Trump. On Tuesday, it was trading at $118,395 per coin.
(RT.com)
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