🇺🇸 Trump Media raises $2.44 billion to buy BTC

Trump Media & Technology Group, the company operating the Truth Social, Truth+, and Truth.Fi platforms, has just completed a fundraising round of $2.44 billion from about 50 institutional investors to build a Bitcoin reserve fund.

The issuance includes the sale of 55.8 million common shares at a price of $25.72 per share, raising $1.44 billion. Additionally, the company issued $1 billion in zero-interest convertible bonds, maturing in 2028, with a conversion price of $34.72 per share.

All of this Bitcoin will be custodied and secured through Crypto.com and Anchorage Digital.