Hey, brothers and sisters in the crypto world! Trump is making big news again! This time it’s not his 'golden quotes' making headlines, but the Trump Media & Technology Group (abbreviated as Trump Media) making a direct entry into the crypto space, splurging $2.44 billion to create a super Bitcoin reserve, instantly ranking fourth among the 'Bitcoin whales' in the U.S. stock market! This move is simply 'Trump takes you flying, crypto world forever'! 😎
Trump Media splashes $2.44 billion, a new king in the crypto world makes an appearance!
On the 27th, Trump Media announced plans to raise billions to buy Bitcoin, and the crypto community was guessing it was a 'smoke bomb'. But on the 30th, they officially announced: $2.44 billion in private placement financing has arrived! This speed is faster than me grabbing Binance's IEO! 😜
What’s the play? Let’s break down the numbers:
55,857,181 shares of common stock at $25.72 per share, raising about $1.44 billion;
$1 billion of 0% convertible corporate bonds, conversion price of $34.72 per share, raising another $1 billion.
In total, $2.44 billion, with $2.32 billion directed towards Bitcoin, creating a super 'Bitcoin treasury'! What about the leftover? Company operations and daily expenses. This move has directly placed Trump Media at the center of the crypto world, definitely a new king in style! 😏
Stock price rollercoaster, the market shouts 'stimulating'!
Once the news broke, Trump Media's stock price (ticker DJT) went on a 'rollercoaster'! On the 27th, after the financing plan was announced, the stock price first dropped 12%, hitting a low of $23.19, likely scared by 'dilution'. After the financing was finalized on the 30th, the stock price soared, reaching a peak of $22.41 during trading, up over 10%! It closed at $21.33, up 2.4%. This volatility is even more thrilling than BTC’s daily chart! 📈📉
