Trump Media announces $2.5B deal to create bitcoin treasury

The Trump Media and Technology Group on Tuesday announced a $2.5 billion deal with institutional investors to create a bitcoin treasury.

The company said in a release that the deal, which is expected to close by about Thursday, May 29, will feature a $1.5 billion stock issuance as well as $1 billion in convertible notes. 

The $2.5 billion deal is being carried out through a private placement offering and will finance the creation of the bitcoin treasury. Trump Media is the parent company of social media app Truth Social.

"We view bitcoin as an apex instrument of financial freedom, and now Trump Media will hold cryptocurrency as a crucial part of our assets," said Trump Media CEO Devin Nunes. 

Read Full Article Here