#TrumpMediaBitcoinTreasury refers to the recent initiative of Trump Media & Technology Group (TMTG), the media company of former President Donald Trump, to establish a Bitcoin treasury valued at approximately $2.5 billion. This strategy positions TMTG as one of the few publicly traded companies with a significant Bitcoin reserve.
Key details of the plan:
Funding: TMTG raised approximately $2.44 billion through the sale of common stock and convertible notes to around 50 institutional investors.
crypto.news
Use of funds: The net proceeds, estimated at $2.32 billion, will primarily be allocated to the purchase of Bitcoin, solidifying this cryptocurrency as a core asset on the company's balance sheet.
