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Future is in #crypto
Trump Media and Technology Group will raise about $2.5bn to invest in Bitcoin, United States President Donald Trump’s social media firm says, as it looks to diversify its revenue streams with a push into the financial sector.
The company is raising the funds by selling $1.5bn in stock at its last closing price and $1bn in convertible notes priced at a 35 percent premium, it said in a statement on Tuesday. The money will be used to build a “Bitcoin treasury”, the company said.