Trump Media buys $2 billion in Bitcoin — and the stock jumps 7%

The Trump Media and Technology Group has made one of its heftiest bets yet — on Bitcoin. The president-backed company behind Truth Social announced Monday that it now holds roughly $2 billion in Bitcoin and related securities, a move that sent its stock — DJT on the ticker — up over 7% in early trading. That crypto cache now makes up about two-thirds of Trump Media’s liquid assets.

Trump Media also disclosed plans to purchase an additional $300 million in Bitcoin-linked options that it soon expects to convert into actual Bitcoin. Taken together, the move signals a full embrace of a strategy borrowed from the playbook of staunch Bitcoin proponents such as MicroStrategy, the enterprise software firm turned Bitcoin vault, and positions the media company as a crypto-heavy holding company that’s banking on the long-term upside of decentralized finance.

Much of the firepower behind the company’s crypto cache came from a $2.5 billion private capital raise in May, when Trump Media sold convertible preferred shares to a mix of crypto-aligned investors and political donors. At the time, CEO Devin Nunes framed Bitcoin as “an apex instrument of financial freedom” and stated the funds would “defend our Company against harassment and discrimination by financial institutions” — language closely aligned with the “de‑banking” rhetoric and concerns from conservative groups about politicized financial discrimination.

In past filings and statements, Trump Media has indicated that crypto is central to its vision for Truth Social’s future, including potential use cases around digital tokens, streaming monetization, and blockchain-powered loyalty programs.

In Monday’s press release, Nunes said, “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.”

The company’s Bitcoin move also dovetails with President Donald Trump’s broader political pivot on the campaign trail toward crypto evangelism. The president has become an outspoken supporter of Bitcoin, stablecoins, and digital assets, part of a broader effort to woo tech-savvy donors and investors disillusioned by the Biden administration's regulatory approach. Just days ago, Trump wrapped up “Crypto Week” on Capitol Hill, a push to fast-track digital asset legislation. The centerpiece was the GENIUS Act, a stablecoin framework aimed at sharply loosening rules on digital asset companies. After some procedural wrangling in the House, Trump signed the bill into law on July 18, calling it “a massive validation” for blockchain innovation. 

Regulatory tailwinds and corporate interest have helped push Bitcoin to record highs — around $123,000 — while the broader crypto market has ballooned past a $4 trillion valuation.

Trump Media has been increasingly open about its crypto pivot. It launched a fintech division called Truth.Fi earlier this year, has signaled interest in a “blue chip” crypto ETF, and floated token-based monetization models for Truth Social. Truth.Fi is reportedly preparing to roll out a utility token.

Trump Media has also leaned into the Trump administration’s broader crypto-friendly positioning, even as ethics groups and Democratic lawmakers raise questions — and filed conflict of interest complaints — largely about the overlap between public policy and private profit, citing Trump family involvement in meme coin projects and personal crypto holdings. Trump has added over $600 million to his family’s net worth, thanks to his recent crypto ventures; a subsequent “unlock” of 90 million $TRUMP tokens is expected to add roughly $93 million. Trump, who owns over 50% of Trump Media, recently served as “Chief Crypto Advocate” for the DeFi project World Liberty Financial.

Further complicating matters, Trump Media is still facing multiple class-action lawsuits from early DJT investors, including a lawsuit filed by United Atlantic Ventures, a partnership of former “Apprentice” contestants Andrew Litinsky and Wes Moss. UAV alleges that Trump Media breached an agreement related to their 8.6% stake and engaged in actions that diluted their shares and misrepresented the company’s financial position. Trump Media has maintained that crypto has always been part of its long-term roadmap and has said that all risk disclosures have been made appropriately.

At a time when Bitcoin is trading just shy of record highs, the timing couldn’t be more favorable. The crypto rally has been turbocharged in recent months by a combination of dovish signals from the Federal Reserve, ETF inflows, and growing retail interest. For Trump Media, the upside potential is clear. But the risk is, too: Tying two-thirds of your liquid net worth to the most volatile asset class on the planet is either forward-thinking or reckless, depending on which way the chart swings next.