Trump Media and Technology Group announced a significant investment plan involving $2.5 billion from institutional investors to establish a bitcoin reserve. This capital will come from 50 investors, comprising $1.5 billion in common shares and $1 billion in convertible senior notes. The company's CEO, Devin Nunes, framed bitcoin as an essential asset for financial freedom and a safeguard against institutional discrimination. Trump's evolving stance on cryptocurrency, once dismissive, now embraces its utility, as he aims to leverage bitcoin for subscription payments and as part of a broader digital currency strategy through 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.
This investment will help defend our Company against harassment and discrimination by financial institutions.
Trump, who referred to cryptocurrencies in his first term as not money, citing volatility, has shifted his views on the technology.
This effort mirrors the president's moves to create a strategic bitcoin reserve for the US government.
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