#TrumpMediaBitcoinTreasury Trump Media stock tanks 9% after ‘bitcoin reserve’ announcement, investors to buy $2.5 billion via share purchase

Trump, who referred to cryptocurrencies in his first term as ‘not money,’ citing volatility and a value ‘based on thin air,’ has shifted his views on the technology.US President Donald Trump speaks to the media following a meeting with Steve Harvey at Trump Tower in New York. / AFP PHOTO / Bryan R. Smith

US President Donald Trump's media company said Tuesday that institutional investors will buy $2.5 billion in the company's stock with the proceeds going to build up a bitcoin reserve. Trump Media said it intends to use the proceeds for the creation of a “bitcoin treasury.”