Trump Media buys $2 billion in bitcoin as it pursues crypto treasury strategy
Trump Media and Technology Group, the social media company owned by President Trump, said it has bought about $2 billion in bitcoin and related securities as it remodels itself as an investment firm.
Trump Media, which owns the Truth Social app, announced in May that it planned to raise $2.5 billion to buy bitcoin, with the goal of creating a reserve of the cryptocurrency. The $2 billion bitcoin purchase is part of the company’s “bitcoin treasury plan,” Trump Media CEO Devin Nunes said in a news release on Monday.
Mr. Trump, the largest investor in Trump Media, has increasingly focused on cryptocurrencies both through his private businesses and his administration. The company’s $2 billion bitcoin purchase comes as Trump Media looks…
