Trump Media & Technology Group, the parent company of Truth Social, confirmed it has allocated approximately $2 billion into Bitcoin and related securities.
00:00Trump Media and Technology Group, the parent company of Truth Social, confirmed it has allocated approximately $2 billion, about two-thirds of its liquid assets, into Bitcoin and related securities, all a part of a bold crypto-treasury strategy.
00:15The firm also set aside an additional $300 million for Bitcoin-linked options, with plans to convert those into spot Bitcoin depending on market conditions.
00:25Company CEO Devin Nunes said the move aims to shield the company from discrimination by financial institutions, bolster financial independence, as well as support the launch of a utility token within the Truth Social ecosystem.
00:39Following the announcement, DJT stock jumped roughly 5% intraday, reflecting a surge in investor enthusiasm.
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