Trump Media reveals possess USD $ 2 billion in Bitcoin

By Hannah Pérez

The USD $ 2 billion in Trump Media Bitcoin represents approximately two thirds of the company’s total liquid assets. It did not specify how much BTC does the date or purchase price have.

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Trump Media accumulates bitcoins for a value of USD $ 2 billion.
The company reported in a statement, but did not specify the amount or purchase price.
It is part of the ambitions of the social Truth operator to expose themselves to cryptocurrencies.
The race is accelerated by Bitcoin treasury among public companies.
Trump Media shares go up while BTC is around USD $ 118,000.

The Trump media and entertainment company has completed an anticipated purchase of Bitcoin (BTC) for your treasury.

In a press release this Monday, Trump Mediawhich is behind the social network Social truthhe reported approximately USD $ 2 billion in Bitcoins as part of its previously announced treasury strategy.

The company did not specify the amount of Bitcoins that maintains, neither the date or price of acquisition by currency. However, he stressed that holdings now comprise about two thirds of the approximately USD $ 3 billion in liquid assets of Trump Media.

The majority property business of the president of the United States, Donald Trump, had presented in January a new financial technology strategy, with plans to launch financial services and invest in cryptocurrencies such as Bitcoin From its corporate portfolio. The company then announced in May an agreement with investors for USD $ 2.5 billion to form its treasury Bitcoin.

“We are rigorously implementing our publicly announced strategy and complying with our Bitcoins Treasury Plan“, Said the CEO and president of Trump MediaDevin Nunes, in the statement on Monday.

Trump Media plans to continue buying cryptocurrencies

As part of the company’s ambitions to enter the emerging sector of digital assets, its social media branch, Social truth, has been requesting several funds quoted in the Bag (ETF) of cryptocurrencies, including one of Bitcoin spot.

Two weeks ago, the company also revealed plans to launch a cryptocurrency of Social truth that will allow users to access rewards based on their level of activity and participation. In particular, the company visualizes launching a useful token with the promise to provide an innovative experience to customers.

“These assets help to guarantee the financial freedom of our company, help us protect ourselves against discrimination by financial institutions and create synergies with the useful token that we plan to introduce throughout the social truth ecosphere”Nunes said Monday confirming these plans.

Trump Media He reported today that USD has $ 300 million additional capital intended for the acquisition of financial products related to Bitcoin and? Plan to continue acquiring Bitcoins and assets related to that cryptocurrency. “The company will use these assets to generate income and potentially acquire additional cryptoactives“, Adds the statement.

The news occurs in the middle of an accelerated career among public companies to build some type of strategic reserve of cryptocurrencies, replicating the pioneering model of Strategythe largest corporate head of Bitcoin.

The favorable regulatory environment propitiated by the Trump administration is encouraging corporations to pursue this play. On Friday, Trump signed the first major cryptocurrency legislation in the country, an event that has contributed to the generalized market prices. Bitcoin Change hands around USD $ 118,000 at the time of editing.

The actions of Trump Media More than 8% rose in operations prior to market opening on Monday.

Hannah Estefanía Pérez / Diariobitcoin

Edited image of Unspash

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