Trump Media buys US$2 billion bitcoin as part of crypto treasury strategy

Trump Media and Technology, operator of the social media platform Truth Social, said it has purchased US$2 billion (HK$15.6 billion) in bitcoin and bitcoin-related securities as part of its previously announced bitcoin treasury strategy.

The holdings now comprise around two-thirds of Trump Media's approximately US$3 billion in liquid assets, according to a statement of the company on Monday. 

An additional US$300 million of capital has been allocated to an options acquisition strategy for bitcoin-related securities, it said. 

These assets help ensure the company's financial freedom, help protect it against discrimination by financial institutions, and will create synergies with the utility token it is planning to introduce across the Truth Social ecosphere, its chief executive and president Devin Nunes said. 

STAFF REPORTER