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.
About 50 institutional investors will put up $1.5 billion in the private placement for common shares in the company and another $1 billion for convertible senior notes, according to Trump Media and Technology Group, the operator of Truth Social and other companies.
Trump Media said it intends to use the proceeds for the creation of a “bitcoin treasury.”
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.
During an event at his Mar-a-Lago club in Florida during his presidential campaign in May 2024, Trump received assurances that crypto industry backers would spend lavishly to get him reelected.
Last week, Trump rewarded 220 of the top investors in one of his other cryptocurrency projects — the $Trump meme coin —with a swanky dinner luxury golf club in Northern Virginia, spurring accusations that the president was mixing his duties in the White House with personal profit.
Related Posts:
- Trump Media says investors will fund a company ‘bitcoin reserve’ through share purchases News 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. About 50 institutional investors will put up $1.5 billion in the private placement for common shares in the company and another $1…
- Bitcoin 2025: Every Speaker At The World’s Biggest Bitcoin Event News The global Bitcoin community is set to converge on Las Vegas for the Bitcoin 2025, a three-day conference from May 27-29 at The Venetian Convention Center. Organizers anticipate more than 30,000 attendees, 5,000 companies, and over 400 speakers at what has become the largest gathering of its kind for the…
- Bitcoin 2025: See These EDM Artists During World’s Biggest Bitcoin Conference News Acraze (Photo: Mauricio Santana/Getty Images) For crypto enthusiasts gathering at this week’s Bitcoin 2025 in Las Vegas—billed as “the world’s largest Bitcoin event”—there will be plenty of Bitcoin-savvy speakers and events from May 27-29 at the Venetian Convention Center, not to mention the attractions at the Venetian Resort itself. But…
- Bitcoin 2025 Day 1: Who’s Speaking At The World’s Biggest Bitcoin Event On May 27 News Strategy founder Michael Saylor (Jason Koerner/Getty Images for Bitcoin Magazine) Bitcoin 2025 starts off stronger than the most persistent HODLer’s position on Tuesday, May 27. A nonstop slew high-profile speakers will cover an array of topics, including Bitcoin’s role in the American economy and policy—notably the recently formed U.S. national…
- Dear Abby: Why should I have to disclose my purchases to my husband? News DEAR ABBY: I’ve been with my husband for 40 years. As in all marriages, we’ve had our ups and downs. Recently I can hardly stand to be around him. Related Articles Dear Abby: My rich sisters don’t understand what it’s like to have a job Dear Abby: My husband won’t…
(Visited 1 times, 1 visits today)