President Donald Trump’s media and technology company is betting big on bitcoin.
On Monday, Trump Media and Technology Group announced that the company has accumulated about $2 billion in bitcoin and bitcoin-related securities.
The new bitcoin holdings now make up about two-thirds of Trump Media’s total liquid assets, worth approximately $3 billion, it announced in a press release.
“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,” Trump Media President and CEO Devin Nunes wrote in the release.
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Trump Media shares, which publicly trade under the president’s initials “DJT,” surged by a high of 9% following the news. At about noon on Tuesday, shares were up almost 4% since the market opened.
Trump Media told Fox News Digital: “Companies supporting or associated with President Trump have been subject to debanking and other kinds of political retaliation throughout the economy—holding a robust Bitcoin treasury helps lessen the impact of this sort of discrimination. And by integrating utility tokens into Truth Social and Truth+, we aim to give our users the option to enjoy our products without being at the mercy of financial institutions who may cancel them.”
President Trump has made cryptocurrency a cornerstone of his second administration, most recently by signing into law the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act on Friday – a landmark piece of legislation that establishes federal regulations surrounding digital currency.
Ahead of signing the bill, Trump recalled how he previously vowed to make the U.S. the “crypto capital of the planet” during a keynote address during a bitcoin conference in Nashville, Tennessee, in July 2024, where he said that the regulations his administration would implement would be “written by people who love your industry, not hate your industry.”
“I pledged that we would bring back American liberty and leadership and make the United States the crypto capital of the world,” Trump said Friday. “And that’s what we’ve done. And under the Trump administration, this is only going further.”
The Trump family has also benefited in recent years from their involvement in crypto ventures, including an estimated $500 million through World Liberty Financial and their Trump-related tokens and memecoins, according to a Reuters analysis.
On FOX Business’ “Mornings with Maria” Tuesday, White House A.I. and crypto czar David Sacks applauded the president’s “leadership and vision and determination and skill” around cryptocurrency regulation.
“He signed the GENIUS Act, which is the first historic piece of crypto legislation. We’ve never had that before. It was President Trump who, during the campaign, promised to make the United States a crypto capital of the planet. He prioritized the issue,” Sacks said.
“This allows the dollar to be used online in crypto wallets across the world. And by doing that, it extends the dollar’s dominance internationally,” he added, “and I think it’s going to bolster the dollar’s status as a reserve currency for the world. And… create trillions of dollars in demand for U.S. treasuries.”
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