Trump Media and Technology purchased $2 billion in Bitcoin and Bitcoin-related securities, reserving an additional $300 million for Bitcoin options. Following the announcement, the company's stock rose 7.2%. About two-thirds of Trump Media's nearly $3 billion in liquid assets are now in Bitcoin. The company issued $2.5 billion in new stock and debt to establish a Bitcoin treasury. Trump's ventures into crypto began after the FTX bankruptcy and now constitute half of his business's worth, indicating a strategic pivot from traditional real estate.
Trump Media and Technology announced it had acquired $2 billion in Bitcoin and Bitcoin-related securities, with an additional $300 million reserved for Bitcoin options.
These assets help ensure our Company's financial freedom, according to Devin Nunes, president and CEO of Trump Media.
Trump's crypto businesses now account for at least half of his business's on-paper worth, marking a significant shift from traditional real estate.
The bold cryptocurrency move comes as Trump seeks to diversify financial assets, leveraging the burgeoning crypto market alongside traditional means.
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