Trump Media’s $2 billion Bitcoin buy shows business empire is now crypto empire
President Donald Trump’s media company just bought a stash of the world’s largest cryptocurrency. On Monday morning, Trump Media and Technology announced that it had acquired $2 billion in Bitcoin and Bitcoin-related securities. It also reserved $300 million to buy Bitcoin options.
The market appeared to approve of the move as stock in Trump’s firm jumped 7.2% on Monday morning from the previous close. It’s up 9% at almost $20 over the past week. About two-thirds of the company’s nearly $3 billion in liquid assets are allocated to Bitcoin.
‘We’re rigorously implementing our publicly announced strategy and fulfilling our Bitcoin treasury plan,” Trump Media president and CEO Devin Nunes said in a statement….
