Trump Media & Technology Group (DJT) is on the verge of raising $2.5 billion to establish a Bitcoin treasury. CEO Devin Nunes said the funds will be sourced through private placements, including institutional investors. They will comprise $1.5 billion in common stock and $1 billion in convertible senior secured notes. Crypto.com and Anchorage Digital will manage the holdings.
The parent company of Truth Social plans to become a major corporate holder of Bitcoin, with Trump having declared his ambition to make the United States the Bitcoin capital of the world. Establishing a Bitcoin treasury will diversify Trump Media’s assets and protect them against future economic downturns.
DJT currently trades at $23.19, representing a 0.61% decline from the previous day.