Trump Media and Technology Group has announced a $2.5 billion deal with institutional investors to create a Bitcoin treasury. This was reported by UNN with reference to Foxbusiness.
Details
In a press release, the company reported that the deal, which is expected to close around Thursday, May 29, will include the issuance of $1.5 billion in stock, as well as $1 billion in convertible bonds.
The $2.5 billion deal is being carried out through a private placement of shares and will finance the creation of a Bitcoin treasury.
We see Bitcoin as the main instrument of financial freedom, and now Trump Media will hold cryptocurrency as a key part of our assets.
He explained that the company is considering a cryptocurrency treasury as a way to protect Trump Media from financial institutions that may persecute or discriminate against the firm.
This investment will help protect our company from harassment and discrimination by financial institutions that persecute many Americans and American firms, as well as create synergies for subscription payments, utility tokens, and other planned transactions between Truth Social and Truth+
Bitcoin treasury storage services for Trump Media will be provided by Crypto.com and Anchorage Digital.