Trump Media & Technology Group, the company behind Truth Social and Truth+ streaming, announced it now holds around $2 billion worth of Bitcoin and Bitcoin-related assets. This is part of its earlier declared Bitcoin treasury strategy, using money from stock sales and bonds.
As per the announcement, the company has about $3 billion in total liquid assets, meaning two-thirds of that is now in Bitcoin. It also set aside an additional $300 million to buy Bitcoin-related options, which it may convert into Bitcoin later depending on market trends.
CEO Devin Nunes 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 discrimination by financial institutions, and will create synergies with the utility token we’re planning to introduce across the Truth Social ecosphere.”
This announcement comes just days after several pro-crypto bills pushed by Trump passed in the U.S. House of Representatives. One of those, the GENIUS stablecoin bill, has already been signed into law by President Trump. At the time of writing, Bitcoin price ia around $117,732.
Some analysts argue that such political moves are intended to consolidate Trump’s control over the crypto space. This is especially evident as his crypto projects — including the WLFI stablecoin and the TRUMP memecoin — have recently increased in value.
Earlier this year, Trump also signed an executive order to create a Strategic Bitcoin Reserve for the U.S. Some expected it to include crypto seized by the government, but Trump’s advisors are also looking at other funding methods, like revaluing old government gold certificates.
Also Read: Trump Media Files S-1 for BTC, ETH, SOL, XRP, CRO ETF
