In May, Trump Media joined the scores of companies emulating the crypto treasury strategy pioneered by Michael Saylor’s Strategy. It’s not the only company linked to the President Donald Trump’s family that has jumped to the Bitcoin treasury play. PSQ Holdings, a firm that counts Donald Trump Jr. as a board member, also announced plans to explore a digital asset treasury strategy.
“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,” said Devin Nunes, chief executive officer and president of Trump Media, in the press release.
The Sarasota, Florida-based company said it will also use its Bitcoin and Bitcoin-related securities to generate revenue and potentially “acquire additional crypto assets.”
See also: When will Singapore see its first crypto exchange listing?
Shares of Trump Media jumped more then 7% in pre-market trading following the announcement. The stock has slumped around 45% so far this year.
