Trump Media Holds $2B in Bitcoin, Plans More Crypto Buys
The Truth Social parent said it plans to continue purchasing bitcoin and has committed $300 million toward an options-based acquisition strategy. The crypto assets make up roughly two-thirds of the company's $3 billion in liquid assets. DJT recently filed to launch three crypto exchange-traded funds, in partnership with Crypto.com, set to debut later this year.
The news comes days after Trump signed the GENIUS Acta stablecoin-focused billinto law, alongside two other crypto measures passed by the U.S. House. Bitcoin traded near $119,000 Monday, having surged by a third in the past three months and hitting a record above $123,000 last week.
This article first appeared on GuruFocus.
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