Trump Media Raises $2.44 Billion for Bitcoin Treasury Plan
Trump Media & Technology Group Corp., the company behind the social media platform Truth Social, has secured approximately $2.44 billion in funding to support its plan to purchase Bitcoin for its treasury. The funding consists of around $1.44 billion raised from selling stock at $25.72 per share and about $1 billion from convertible bonds.
Following the announcement of the pricing, Trump Media’s shares experienced a significant increase, rising as much as 7.6% on Friday. As of 12:30 p.m. in New York on the same day, the shares were up 2.9% to $21.43 each.
The decision to invest in Bitcoin for its treasury marks a significant move by Trump Media, demonstrating its commitment to expanding its financial strategies into cryptocurrency. This development has been closely watched by investors and industry observers, given the company’s association with former US President Donald Trump and the growing interest in digital assets.
