Trump Media to Buy $2.5 Billion in Crypto to Create ‘Bitcoin Treasury’

Trump Media & Technology Group, the company that owns President Donald Trump’s Truth Social platform, announced plans Tuesday to buy about $2.5 billion in cryptocurrencies to create what it calls a “bitcoin treasury.” The company plans to raise the money by selling $1.5 billion in common stock and $1 billion in convertible debt to 50 investors, according to a press release. The news, first reported by the Financial Times as $3 billion before Trump Media issued a press release, comes after President Donald Trump held a dinner for some of the largest investors in his own cryptocurrency, $TRUMP, dubbed a “memecoin,” because it has no practical uses beyond speculation. Trump spent just 20 minutes at the dinner, according to several reports and disappointed attendees. Crypto.com and Anchorage Digital will actually hold the bitcoin for Trump Media, according to a press release. Trump Media has already launched a finance company called Truth.Fi in February and will offer an ETF that’s suppo ... Read full article.