Trump Media and Technology Group (TMTG), the company behind Truth Social, has recently invested $300 million into a Bitcoin-related asset, bringing its total crypto holdings to approximately $2.2 billion. This move is part of the company's publicly announced "Bitcoin Treasury Plan," a strategy to create a significant crypto reserve.
In May, TMTG initially announced its intention to raise $2.5 billion to purchase Bitcoin, and CEO Devin Nunes confirmed that this latest investment is a continuation of that strategy. The company's bitcoin and related securities now make up about two-thirds of its $3 billion in liquid assets, with an additional $300 million allocated to an "options acquisition strategy for bitcoin-related securities."
The company's growing investment in crypto has raised concerns about a potential conflict of interest for President Donald Trump, who is a major investor in TMTG. Nick Carter of Castle Island Ventures noted that having businesses with conflicting interests is a "headache" for the industry.
Several U.S. lawmakers, including Representatives Maxine Waters, Stephen Lynch, and Senator Elizabeth Warren, have previously voiced their opposition to President Trump's increasing involvement in cryptocurrencies. They have accused him of using his position to enrich himself and his family, citing his family's other crypto ventures, including a stablecoin and a meme coin.
In response to these concerns, White House spokesman Harrison Fields has stated that the president "has never engaged in, and never will engage in, any conflict of interest." Over the past year, the president's wealth from crypto investments has reportedly grown by at least $620 million.
July 2025, Cryptoniteuae