Trump Media Bets Big on Bitcoin with $2 Billion Treasury Play

Trump Media and Technology Group (TMTG) has bought over US$2B (AU$3.06B) worth of Bitcoin.

The move is part of what CEO Devin Nunes called the company’s “Bitcoin treasury plan”, a strategy to build a large crypto reserve and position the company as a financial player in digital assets.

Nunes said on Monday:

Our bitcoin purchase will 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.

Devin Nunes, CEO of Trump Media.

Related: Jameson Lopp’s Quantum-Safety Push: Upgrade Your Bitcoin or Lose It

Its Official

The announcement follows a May disclosure that Trump Media aimed to raise over US$2.5B (AU$3.8B) for BTC. Now it has deployed most of that into the asset and intends to continue accumulating. 

An additional US$300M (AU$459M) has been earmarked for an options strategy tied to Bitcoin-linked securities. The firm is also preparing to launch exchange-traded funds (ETFs) and other investment vehicles as part of its broader crypto strategy. 

This basically places Trump Media on a trajectory similar to firms such as Strategy, Metaplanet, and Riot Platforms. Most of these companies follow Michael Saylor’s playbook, which helped his company become the largest public holder of BTC. 

Strategy owns over 607,000 bitcoins, worth north of US$72B (AU$110), and has aggressively expanded its holdings through equity sales and debt issuance. Trump Media appears to be drawing from the same playbook, and this recent purchase has immediately placed the company at the spot number five, with over 18,000 BTC.

The news comes as spot Bitcoin ETFs have hit another milestone, with all funds combined now reaching over US$173B (AU$266B). That’s around 7% of the total BTC supply, and of course, BlackRock has the biggest share of the pie, with nearly US$500M (AU$765M) in inflows last Friday alone.

Related: Pump.fun Presale Dump: Nearly 60% of PUMP Buyers Have Already Offloaded Tokens, BitMEX Finds