Presidential candidate Michael Bloomberg (D-NY) plans to double his ad spending and increase his staff size, according to a New York Times report.

The former New York City mayor sees an opening in the Democratic field after Monday’s Iowa caucus and is using the power of his coffers to challenge President Donald Trump in the 2020 election. In fact, he targeted Trump during the Super Bowl with an $11 million anti-gun ad that some critics said was not effective.

Instead of spending Monday in the Hawkeye State, Bloomberg traveled across California. His goal was to rally supporters on the same day early voting began in the nation’s most-populous state. Bloomberg began his day in a coffee shop in the capital city of Sacramento and stopped at Fresno City College before heading south, where he ended the day at a community center in Compton.

.@AjaLBrown is a case study in how a mayor can have a direct impact on her community. She’s taken on Compton’s biggest challenges — and delivered. It was great spending time with her today, and I’m honored to have her support as we work to defeat Trump and rebuild America. pic.twitter.com/PoIa1UgSgL — Mike Bloomberg (@MikeBloomberg) February 4, 2020

“It’s much more efficient to go to the big states, to go to the swing states,” Bloomberg said. “The others chose to compete in the first four. And nobody makes them do it, they wanted to do it. I think part of it is because the conventional wisdom is ‘Oh you can’t possibly win without them.’”

Strategists involved with the Bloomberg campaign told the Times that the billionaire has given his team permission to double campaign spending on television commercials in every market where he is currently advertising. He has also provided them the ability expand his campaign’s field staff to more than 2,000 people.

Bloomberg, the founder, CEO and president of Bloomberg L.P., is one of the wealthiest men in the world, with a net worth of more than $60 billion. While Mayor of New York City, he governed as a Republican (2002-07) and an Independent (2008-13).

His campaign also released a new advertisement that is scheduled to air on cable stations nationwide during President Donald Trump’s State of the Union address Tuesday.

Bloomberg’s campaign manager Kevin Sheekey said Tuesday morning that the candidate has made it clear that he is running a national campaign and that he would “double down on that bet, as we prepare both a Super Tuesday strategy, but at the same time, to stand up against the president in battleground states in November.”

One of Bloomberg’s main campaign platforms is gun control. He’s also said that as a fellow billionaire businessman with more than one decade of experience running America’s largest city, he has the qualifications to defeat Pres. Trump.

According to Ad Analytics, Bloomberg has spent more than $300 million on television and digital advertising.