Former New York City mayor and real billionaire Michael Bloomberg re-registers as a Democrat sending a strong signal of a 2020 presidential run.

“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,” Bloomberg wrote in an Instagram post.

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