Trump Media (DJT) shares rose more than 5% Monday following the company’s announcement that it acquired $2 billion worth of bitcoin (BTC-USD) and related securities.
The media group bearing President Trump’s name operates his social media platform, Truth Social, alongside the streaming service Truth+ and financial brand Truth.Fi. The company said this crypto acquisition aligns with its May plan to become a bitcoin treasury company.
With this purchase, Trump Media now holds bitcoin exposure that represents two-thirds of its total $3 billion in assets.
“We’re rigorously implementing our publicly announced strategy and fulfilling our bitcoin treasury plan,” Trump Media CEO and president Devin Nunes said in a press release. “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.”
Additionally, the company revealed it allocated $300 million toward an “options acquisition strategy for bitcoin related securities.”
Trump’s financial involvement in crypto is growing amid new Washington legislation offering the industry clearer, more favorable oversight. On Friday, Trump signed the GENIUS Act into law, establishing the first federal framework for dollar-backed stablecoins, which is expected to boost adoption of these digital assets.
A crypto startup backed by Trump and his sons, World Liberty Financial, recently launched its own US-dollar-pegged stablecoin (USD1) in partnership with BitGo.
Trump Media first announced plans in May to raise $2.5 billion to build a bitcoin treasury—a strategy popular among crypto entrepreneurs that uses a mix of public equity and debt to rapidly acquire bitcoin.
This approach was pioneered by Michael Saylor’s Strategy (MSTR), formerly MicroStrategy, which began accumulating bitcoin aggressively starting in 2020.
Several other companies, some with ties to White House advisers’ families, have followed suit, acquiring bitcoin and other cryptocurrencies like ether. While these moves often trigger sharp stock price increases, skeptics question the sustainability of such dynamics.
Since announcing its bitcoin treasury plans in late May, Trump Media’s stock has dropped 25%, and it is down 45% year-to-date.
Pump Radar
Stock Alerts