According to Bloomberg, US President Donald Trump's company Trump Media announced a Bitcoin (BTC) treasury deal worth approximately $2.5 billion.
The agreement in question was made with approximately 50 institutional investors.
Trump Media will sell $1.5 billion worth of stocks and $1 billion worth of bonds, and will use the proceeds to buy Bitcoin.
It was stated that they will work with Crypto-com and Anchorage Digital for the storage of Bitcoins.
“The company plans to use the proceeds to create a Bitcoin treasury.
The move, one of the largest Bitcoin treasury deals of any public company, closes out Trump Media’s previously announced private buyout fund.
This is one of the many ways, including potential mergers and acquisitions, that the company aims to expand its reach in the Pre-American economy.”
“We view Bitcoin as the ultimate vehicle for financial freedom, and now Trump Media will hold crypto as a significant portion of our assets,” said Devin Nunes, Trump Media CEO and Chairman, in a statement about the $2.5 billion Bitcoin move. “This investment, our first purchase of a crown jewel asset, will help defend our Company against the harassment and discrimination by financial institutions that plague so many Americans and U.S. businesses, and will create synergies across Truth Social and Truth+ for subscription payments, a utility token, and other planned transactions. It’s a big step in the Company’s plans to transform into a holding company by acquiring additional profitable crown jewel assets that align with America First principles.”
Following the news, Bitcoin prices rose.
*This is not investment advice.
