Just-In: Chinese Firm Raises $300 Million to Buy $TRUMP token and Bitcoin
Ahead of the much-anticipated Donald Trump’s crypto dinner, GD Culture Group (GDC), a Nasdaq-listed holding company with Chinese ties, has announced plans to invest a colossal $300 million in TRUMP token and Bitcoin.
Driven by this significant development, the memecoin price rebounded from its recent downtrend, surging by 6% in the last 24 hours.
The recent investment news and the subsequent price surge have further boosted interest in the TRUMP coin ahead of the crypto dinner hosted by President Donald Trump.
Earlier this month, the confirmation of an exclusive dinner with Donald Trump fueled a price rally for $TRUMP . Now, the news of Chinese-linked GDC investing in the token has also received a similar response.
Reportedly, the company aims to build a long-term crypto reserve, signaling confidence in the future of cryptocurrencies and decentralized finance.
According to an official filing, GDC revealed that the investment will be financed through a stock purchase agreement with a British Virgin Islands-based investor, who has pledged to provide up to $300 million.
Further, the firm asserted, “The Company plans to use proceeds from the offering, if any, to invest in Bitcoin and OFFICIAL TRUMP and for general corporate purposes.”
This development has significantly boosted the TRUMP coin price surge despite its recent correction. After being one of the top losers yesterday, the token has bounced back today, likely due to the GDC deal.