Trump Media Terminates $3 Billion Cryptocurrency Investment Scheme Report
In a significant move, Trump Media & Technology Group (TMTG) has announced a deliberate investment strategy in Bitcoin and other cryptocurrencies.
The company, the parent organisation of Truth Social, has acquired approximately $2 billion in Bitcoin and Bitcoin-related securities, making up nearly two-thirds of its $3 billion in liquid assets. TMTG has also committed to a Bitcoin treasury strategy, with plans to continue acquiring Bitcoin and convert options into spot Bitcoin depending on market conditions.
Furthermore, TMTG has allocated an additional $300 million for an options acquisition strategy targeting Bitcoin-related securities, indicating a firm commitment to investing in cryptocurrencies. The company also plans to integrate its Bitcoin holdings with its utility token across the Truth Social ecosystem, enhancing its investment strategy.
These actions align with Trump's broader support for the crypto market, although there is no denial of these investments from the company. Instead, there is a strategic focus on cryptocurrency that has been publicly disclosed by TMTG.
Meanwhile, the meme coin dinner attended by major holders of the TRUMP meme coin has sparked concerns among Democratic lawmakers. U.S. Senator Jon Ossoff of Georgia has expressed support for the impeachment of President Donald Trump and has raised questions about potential conflicts of interest and the president's involvement in crypto-related activities. Some attendees have also questioned whether their substantial investments in the TRUMP meme coin were justified due to the poor dining experience.
The president's speech during the event has been criticized, with Trump reportedly reading from a prepared script and making broad statements about cryptocurrency, referring to it as something that may be "special." However, Trump Media and Technology Group has denied reports that it intends to raise $3 billion to invest in Bitcoin and other cryptocurrencies.
The report, which claimed that TMTG was allegedly preparing to raise $2 billion through equity offerings and an additional $1 billion via convertible bonds, was dismissed by the company. TMTG accused The Financial Times of relying on unreliable sources and referred to its journalists as "dumb writers" taking cues from "even dumber sources."
As TMTG's focus on cryptocurrencies draws fresh attention to the president's expanding footprint in the digital asset space, ongoing efforts to block Trump from profiting off the GENIUS Act continue. With heightened scrutiny from Democratic lawmakers and opposition from some members, the future of TMTG's cryptocurrency investments remains to be seen.
- Trump Media & Technology Group (TMTG) has expanded its business strategy beyond Truth Social, venturing into the finance sector, with a deliberate focus on Bitcoin and other cryptocurrencies, making up nearly two-thirds of its $3 billion in liquid assets.
- In addition to Bitcoin investments, TMTG has also strategized to acquire options for Bitcoin-related securities, allocating an extra $300 million towards this approach, indicating a firm commitment to the crypto market.
- While TMTG's commitment to cryptocurrencies has drawn attention and raised questions from some quarters, particularly Democratic lawmakers who question potential conflicts of interest, TMTG has publicly disclosed its strategic focus on digital assets, including a Bitcoin treasury strategy and plans to integrate Bitcoin holdings with its utility token across the Truth Social ecosystem.
