๐ฐ Trumpโs $2.5B Bitcoin Deal Rattles Meme Coin Markets โ Is TRUMP Token Next to Moon?
Although consolidating, the Official Trump meme currency maintains stable on the 50-day EMA.
Trump Media & Technology Group plans to raise $2.5 billion for a Bitcoin treasury.
The business sold $1.5 billion in ordinary stock and raised $1 billion in convertible senior secured notes.
As of Tuesday, the Official Trump (TRUMP) meme currency is trading sideways at $2.85. This follows last week's $16.00 rejection because to unfavorable reaction over the exclusive top TRUMP holders' meal with President Donald Trump on May 22.
Trump Media & Technology Group, which owns Truth Social, Truth+, and Truth.F, declared a massive $2.5 billion Bitcoin treasury.
The Trump Media $2.5 Bitcoin treasury is unchanged. TRUMP meme coin
On Tuesday, Trump Media & Technology Group stated that it had inked agreements with 50 institutional investors to issue and sell its ordinary shares for $1.5 billion. The agreements were extended to encompass $1 billion in convertible senior secured notes, a $2.5 billion private placement transaction. The promotion ends May 29.
The corporation will invest in a Bitcoin treasury as part of its assets. Trump Media previously said it was considering a special purchase fund to enhance its America First economic agenda.
โWe view Bitcoin as an apex instrument of financial freedom, and now Trump Media will hold cryptocurrency as a crucial part of our assets,โ CEO and Chairman Devin Nunes stated. โItโs a big step forward in the Companyโs plans to evolve into a holding company by acquiring additional profit-generating, crown jewel assets consistent with America First principles,โ Nunes said.
The Official Trump meme currency saw no movement following the news. However, its 1% daily gain might lead to additional increases in future sessions.
Beyond the 50-day EMA support around $12.60, traders should watch the green demand region around $10.00 and the buyer congestion zone between $8.90 and $7.15.
