Donald Trump and his family continue to do business at full speed while the president occupies the White House. This Tuesday, Trump Media & Technology Group (TMTG), owner of the social network Truth, announced that it is launching to raise 2.5 billion dollars from investors to be allocated for the purchase of bitcoin. In some way, this allows for a high valuation for a loss-making company with barely any revenue, whose stock price defies logic and is only justified by being majority-owned by the president.

TMTG has informed the U.S. Securities and Exchange Commission (the SEC) that it plans to issue 1.5 billion dollars in shares and another 1 billion in convertible bonds to invest in the world’s leading cryptocurrency. Although Trump’s stake in the company will be diluted with the operation, the company’s assets will skyrocket and will mainly be linked to bitcoin. The cryptocurrency is currently at historical highs.

Trump's company has already reached a subscription agreement with about 50 institutional investors for them to subscribe to the shares at a price of 25.72 dollars per share in a private placement, according to what it has communicated to the SEC. The net proceeds “will be allocated to the purchase of bitcoin and to working capital and general corporate purposes,” states the company, which expects to close the operation this Thursday.#TrumpMediaBitcoinTreasury