Trump Media & Technology Group (NASDAQ: DJT) made headlines once again as it revealed a massive $2 billion bitcoin treasury, sending Trump Media stock surging and sparking debate over the former president’s deepening ties to cryptocurrency.
The company, which originally launched as a social media venture with its flagship app Truth Social, has swiftly pivoted toward financial services and digital assets. According to a press release issued Monday, Trump Media stock jumped nearly 9% at market open before stabilizing around a 4% gain by mid-afternoon. This surge reflects investor enthusiasm following confirmation that two-thirds of the company’s liquid assets are now held in bitcoin and crypto-related investments.
DJT: More Than a Ticker Symbol
Trading under the symbol DJT, Trump Media stock has become a magnet for retail investors and cryptocurrency enthusiasts alike. With Donald Trump’s personal stake in the company valued at approximately $2.3 billion, the former president now ranks among the most prominent crypto holders in the U.S.
In fact, according to recent analysis by Forbes, crypto-related ventures now make up the majority of Trump’s net worth. His backing of decentralized finance is no longer symbolic; Trump has signed legislation such as the GENIUS Act and appointed a national “crypto czar,” signaling policy alignment with the industry’s growth.
Trump’s Bitcoin Strategy
The company’s CEO, Devin Nunes, emphasized the strategic purpose behind the crypto buildup. “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,” Nunes said.
The transition to crypto began in earnest earlier this year, with DJT allocating $250 million to Truth.Fi, its fintech subsidiary. Since then, Trump Media has raised over $2.3 billion in capital through stock and convertible note sales, which directly fueled the creation of its bitcoin reserve.
Critics Raise Concerns
Not everyone is applauding the move. Ethics watchdogs and Democratic lawmakers have raised alarms over potential conflicts of interest. Though Trump claims his assets are held in a revocable trust managed by Donald Trump Jr., critics argue the structure still allows indirect benefit from policies enacted while in office.
“President Trump will likely profit from the very policies he is pursuing,” said the Democracy Defenders Fund in an April report, highlighting the blurred lines between public duty and private gain.
The Road Ahead for Trump Media Stock
With bitcoin recently breaching an all-time high above $120,000, DJT’s aggressive strategy seems to be paying off—for now. The company’s partnership with Crypto.com and plans to launch new ETFs show no signs of slowing down.
As the 2024 election dust settles and the regulatory environment for crypto continues to evolve, Trump Media stock remains a lightning rod in the financial markets. Whether it’s a bold vision for the future or a speculative gamble, investors are watching closely.
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