The deal is the latest move by companies partly owned by President Trump and members of his family to invest in crypto currency.

Bitcoin is known to be volatile. However, a growing number of public companies have started to buy and hold the digital asset on their balance sheets, as bitcoin reached a new high last week.

Trump Media and Technology Group plans to raise $2.5 billion to buy bitcoin and build up a reserve of the cryptocurrency, in the latest move by President Trump’s businesses to expand their reach