Backed by $2.5 billion in funding, Trump’s media company has started acquiring Bitcoin as part of its previously announced investment strategy.
Trump Media and Technology Group, the company that owns US President Donald Trump’s Truth Social platform, said it held about $2 billion in “Bitcoin and Bitcoin-related securities” just a few days after significant cryptocurrency bills pushed by Trump advanced in Congress.
In a Monday notice, Trump Media said it had acquired Bitcoin (BTC) as part of an investment strategy announced in May, in which it allocated $1.5 billion from stock sales and $1 billion from convertible senior secured bonds to purchase the cryptocurrency.
The media company said it would continue to acquire “Bitcoin and Bitcoin-related assets” depending on market conditions.
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