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.
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.
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