#TrumpMediaBitcoinTreasury
Trump Media & Technology Group (TMTG), the parent company of Truth Social, has announced plans to raise $2.5 billion to establish a bitcoin treasury. This initiative involves securing $1.5 billion through private placement of common shares and $1 billion via convertible senior notes. The funds will be used to purchase bitcoin, positioning it as a core asset on the company's balance sheet. Crypto.com and Anchorage Digital have been selected to manage the custody of these bitcoin holdings .
CEO Devin Nunes stated that this move aims to protect the company from potential discrimination by financial institutions, aligning with TMTG's broader mission of promoting financial freedom. The strategy mirrors actions by other corporations like MicroStrategy and Tesla, which have incorporated significant bitcoin reserves into their financial strategies .
