Trump Media and Technology Group (TMTG), a company linked to US President Donald Trump, has expanded its digital asset financing strategy by purchasing a large amount of Bitcoin (BTC).
The company reported that it had purchased US$20 million in BTC and related financial value. With this movement, BTC represents two-thirds of TMTG liquid reservesequivalent to USD 3,000 million.
In addition to direct purchases, they allotted $300 million to buy Bitcoin-related options. An option is an agreement that grants you the right (but not an obligation) to purchase Bitcoin at a price agreed in the future. This is a way to guess or protect the future price of an asset.
Therefore, the operator of social network True Social has officially made plans to strengthen the balance with this digital asset. The digital asset was approved by the U.S. Stock Exchange and the Securities Commission on June 14th.
Devin Nunes, executive director of Trump Media, said the company is running its roadmap. “We are implementing our publicly published strategies strictly and carrying out our financial plans with Bitcoin,” he said.
According to an official statement, Trump Media believes it intends to continue acquiring digital assets and other derivative products. I have plans to turn options into cash to Bitcoindepending on the market situation. These assets are used by the company to generate income and potentially acquire more coins in the future.
Nunes added that these holdings are trying to ensure the company’s financial freedom. Protect it from discrimination by traditional financial institutions. He also noted that Bitcoin accumulation “will create a synergistic effect with utility tokens that are planned to be introduced throughout the social truth ecosystem.”
This financial movement comes after TMTG announced advances in the development of the aforementioned tokens designed to be integrated into the reward system of its platform users and Truth+ subscription services. Although no technical details are specified, the token will become part of a loyalty program that promotes community participation, like reported encryption.
