Trump Media Buys $2.3 Billion in Bitcoin
President Donald Trumps strong entry into Bitcoin shows his strong support for the crypto industry and Bitcoin, will Bitcoin become the American Dream?
Trump Media and Technology Group (TMTG), the company behind Truth Social, has announced the completion of a deal that will allow it to raise more than $2.3 billion, likely through a stock sale. The capital injection is intended to make a significant investment in Bitcoin (BTC).
The funding comes after TMTG reportedly sold its shares to approximately 50 institutional investors. If the company follows through on its announced plans and uses the funds to buy Bitcoin, it could quickly become one of the largest holders of the cryptocurrency in the world, taking a bold step into the digital asset space.
The net proceeds from the share sale will be used to create a Bitcoin treasury. The news comes as other companies such as MicroStrategy and Marathon are also among the largest corporate holders of Bitcoin. The significant purchase strengthens Donald Trump’s personal brand connection to the Bitcoin ecosystem.
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