📰 Trump Media Raises $2.44 Billion to Build a Massive Bitcoin Vault!
Trump Media & Technology Group announced it has raised $2.44 billion from about 50 institutional investors, aiming to purchase Bitcoin and establish one of the largest cryptocurrency vaults among publicly traded American companies.
🔸 The deal included the sale of 55.8 million shares at a price of $25.72 per share
🔸 Issuance of $1 billion convertible bonds due in 2028
🔸 $2.32 billion will be used to purchase Bitcoin and support the company's operations
🔸 Storage will be through Crypto.com and Anchorage Digital
🚀 CEO Devin Nunes confirmed that this move is part of the "financial freedom" vision and supports the American economy.
📈 DJT stock rose after the announcement, although it is still down more than 36% since the beginning of the year.
🇺🇸 Trump Media joins major companies like GameStop that have begun storing Bitcoin.