Photo by Ole Jensen/Getty Images(NEW YORK) — Former New York City Mayor Michael Bloomberg will file to run for president in 2020.

The news was first reported by The New York Times and confirmed by ABC News.

Last year, Bloomberg announced on Instagram that he decided to re-register as a Democrat — a move many interpreted as a strong indication he had interest in a presidential bid.

“At key points in U.S. history, one of the two parties has served as a bulwark against those who threaten our Constitution,” the billionaire wrote. “Two years ago at the Democratic Convention, I warned of those threats.”

“Today, I have re-registered as a Democrat — I had been a member for most of my life — because we need Democrats to provide the checks and balance our nation so badly needs,” he said.

Two months later, Bloomberg reportedly held meetings with top Iowa Democrats during a multi-city tour through the first state that has a say in a presidential race.

Bloomberg has outspokenly opposed President Donald Trump and his policies since the 2016 campaign, calling him a “dangerous demagogue” in his endorsement of Hillary Clinton at the Democratic National Convention.

This is a developing story. Please check back for updates.

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