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Trump Media Makes $2 Billion Bitcoin Bet - Unchained
Trump Media and Technology Group, the company founded by President Donald Trump and parent of Truth Social, announced on Monday that it has acquired approximately $2 billion in bitcoin and bitcoin-related securities as part of its crypto treasury strategy.
This latest acquisition comprises about two-thirds of the company’s $3 billion in liquid assets.
The move came shortly after Trump signed the pro-stablecoin Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act into law and followed the passage of other crypto-related bills in the U.S. House of Representatives.
This story is an excerpt from the Unchained Daily newsletter.
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Trump Media indicated plans to keep acquiring bitcoin and possibly convert options into spot bitcoin, depending on market conditions, and has set aside $300 million of additional capital towards this strategy.
Shares in Trump Media, which trade under the ticker DJT, gained 3% after the announcement.