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Trump Media & Technology Group, the parent company of Truth Social, is making a significant move into the cryptocurrency space by investing in Bitcoin. Here's what we know about the investment
- *Investment Amount*: Trump Media plans to raise $2.5 billion to create a Bitcoin treasury, with $1.5 billion coming from common stock sales and $1 billion from convertible senior secured notes.
- *Purpose*: The company views Bitcoin as a tool for achieving financial independence and aims to defend itself against financial institution harassment.
- *Custody*: Crypto platforms Anchorage Digital and (link unavailable) will provide custody for Trump Media's Bitcoin holdings.
- *Existing Funds*: The company had $759 million in cash, cash equivalents, and short-term investments as of the end of the first quarter of 2025, which will be added to the Bitcoin treasury.
- *Total Liquid Assets*: Trump Media's total liquid assets are projected to exceed $3 billion once the offering is completed.
- *Deal Closure*: The transaction is expected to close around May 29, 2025, subject to customary closing conditions.
