The $2.5 billion, which at Bitcoin’s current price of $110,000 amounts to more than 22,500 tokens, will be used to create a “Bitcoin treasury,” according to the company. A Bitcoin treasury is a stockpile of the cryptocurrency held long-term by a government or company, often for the purpose of diversifying the entity’s assets and hedging against inflation.
“We view Bitcoin as an apex instrument of financial freedom, and now Trump Media will hold cryptocurrency as a crucial part of our assets,” TMTG’s CEO and former congressman Devin Nunes said in the statement.
TMTG’s investment will make it the third-largest corporate holder of Bitcoin, behind Michael Saylor’s company Strategy with $63 billion worth of Bitcoin, and crypto mining company MARA with $5 billion worth of Bitcoin.
