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resident Donald Trump's media company, Trump Media and Technology, has made a significant move into the cryptocurrency market. The company announced it had acquired $2 billion in Bitcoin and related securities, with an additional $300 million reserved for buying Bitcoin options. This acquisition comes as stock in Trump's firm jumped 7.2% on Monday morning, following a nearly 9% increase over the past week.

    The company has allocated about two-thirds of its nearly $3 billion in liquid assets to Bitcoin, solidifying its commitment to the cryptocurrency market. "We're rigorously implementing our publicly announced strategy and fulfilling our Bitcoin treasury plan," said Trump Media president and CEO Devin Nunes. "These assets help ensure our Company's financial freedom."

    This move marks a significant shift for the Trump family's business empire, which has traditionally been associated with real estate. However, in recent years, crypto has become an increasingly important part of their business ventures. The company's pivot to crypto began in December 2022, after the FTX bankruptcy, and has since included launching NFTs, partnering with crypto executives, and investing in decentralized finance applications.

    Trump Media's foray into crypto is particularly notable given its struggles to find success in the media industry. Despite reporting little revenue since its launch, the company has filed to launch a string of crypto ETFs and hinted at creating its own cryptocurrency and digital wallet. With this acquisition, Trump Media is further solidifying its position as a major player in the crypto market.