Trump Media Invests $2.32B in Bitcoin 🚀
Trump Media and Technology Group has closed its private offering to create a corporate Bitcoin treasury. The company sold 55.8 million shares at $25.72 each, raising $1.44 billion, alongside issuing convertible notes totaling $1 billion. With $2.32 billion in net proceeds, Trump Media plans to build its Bitcoin treasury and support corporate operations. As a result of this move, DJT shares saw fluctuations but ended with a minor increase. CEO Devin Nunes expressed confidence that this move will financially position the company for its strategic expansions within the America First economy. The initiative places Bitcoin alongside the company's existing assets and marks a significant positioning in the crypto-treasury forefront.
FAQ
❓ Why is Trump Media investing in Bitcoin?
Trump Media believes that Bitcoin will enhance its financial flexibility and support its strategic growth plans.
❓ How much did Trump Media raise?
Trump Media raised approximately $2.32 billion through its private offering.
❓ What impact did the Bitcoin plan have on Trump Media's stock?
The stock initially dropped 10% upon announcement but later rose by approximately 3.3%.