"Trump Media and Technology Group announced that institutional investors will invest $2.5 billion in the company's stock to establish a bitcoin reserve, representing a shift in Trump's crypto stance."
"In a significant financial move, Trump Media plans to use the proceeds from the investment for building a bitcoin treasury, marking a noteworthy pivot in Trump's previously skeptical view of cryptocurrencies."
Trump Media and Technology Group revealed that it will secure $2.5 billion from about 50 institutional investors to create a bitcoin reserve. This funding includes $1.5 billion in common shares and $1 billion in convertible notes. Historically skeptical of cryptocurrencies, Trump has revised his stance following encouragement from crypto industry supporters. His recent efforts to engage with investors, including hosting a dinner for backers of his meme coin project, have raised concerns over the blending of political and personal financial interests.
Read at www.mercurynews.com
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