Trump Media Group, the owner of the Truth Social platform, announced that it plans to sell approximately $1.5 billion in stock along with $1 billion in non-interest-bearing convertible bonds, with the aim of purchasing Bitcoin to be part of the company's reserves.
The company thus joins the list of institutions following the model pioneered by Michael Saylor at MicroStrategy, which involves financing the purchase of Bitcoin through stock and bond issuances.
"Trump Media" will include the digital currency in its balance sheet alongside cash liquidity, cash equivalents, and other investments, which amounted to $759 million by the end of the first quarter of this year.
This move comes after the company, owner of the social media platform Truth Social, reached a binding agreement last month to launch investment products aimed at individuals, including cryptocurrencies and exchange-traded funds (ETFs) as part of the "America First" policies advocated by Trump.