#Trump #BTC
Trump Media and Technology Group Corp, the company behind the social media platform Truth Social, has announced its intention to establish a $2.5 billion bitcoin reserve. The firm has already entered into a preliminary agreement with more than 50 institutional investors.
The company plans to raise funds for this investment through the issuance of common stock and convertible bonds. According to the press release, the offering is expected to close by May 29, 2025.
The funds raised will be used by Trump Media to create a bitcoin treasury. Based on the current exchange rate, the firm will be able to purchase approximately 22,768 BTC.