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Investing.com -- Trump Media & Technology Group Corp (NASDAQ:DJT) has built up $2 billion in bitcoin and bitcoin-related securities as part of its strategy to expand its digital-asset initiatives.
The holdings now make up approximately two-thirds of Trump Media’s total liquid assets of about $3 billion. The company has also allocated around $300 million to an options acquisition strategy for bitcoin-related securities.
According to a statement from the company, Trump Media plans to continue acquiring bitcoin and bitcoin-related assets. It also intends to convert its options into spot bitcoin, depending on market conditions.
Shares in the company rose 7.5% in premarket Monday trade.
The CEO stated in the announcement: "We’re rigorously implementing our publicly announced strategy and fulfilling our bitcoin treasury plan.
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."