In a landmark move that has ignited both financial markets and political debate, Trump Media & Technology Group (TMTG) – the company behind the conservative social media platform Truth Social – has invested roughly $2 billion in Bitcoin and other crypto-related assets. The announcement marks a significant milestone in President Donald Trump’s transformation from crypto skeptic to digital currency evangelist, and places his political brand at the center of one of the most explosive financial sectors in modern history.

The acquisition, disclosed on July 21, represents a sweeping pivot in Trump Media’s treasury strategy. According to a statement from the company’s CEO and former Congressman Devin Nunes, an additional $300 million has also been allocated toward an “options-based Bitcoin strategy,” giving the firm financial leverage and strategic flexibility in volatile crypto markets. Depending on market conditions, the company may convert these options into direct cryptocurrency holdings.

“This move is designed to generate revenue and expand our crypto footprint in a rapidly evolving economy,” Nunes said. “The future is decentralized, and Trump Media intends to be at the forefront of that transition.”

Trump’s latest embrace of digital currencies is all the more remarkable considering his earlier stance. During his first term as president, Trump was vocal in his criticism of Bitcoin and other cryptocurrencies, calling them “highly volatile” and “based on thin air.” That sentiment began to shift during his 2024 presidential campaign, when he began courting the growing crypto constituency, pledging to make the United States the “crypto capital of the world.” Once back in the White House, Trump wasted no time in acting on that promise.

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