Trump Media and The Technology Group, a publicly traded company that owns shares of US President Donald Trump and the majority of his family, has raised $ 2.5 billion to collect “Bitcoin Treasury”.
On Monday, in response to a Financial Times report, TMTG initially refused to consider any such plan. The company allegedly said, “In the Financial Times, dumb writers are also listening to the sources of Dubber.” But it seems that the Trump Media and the Technology Group has changed its tune since then.
In a press release on Tuesday, TMTG confirmed that it had agreed to sell $ 1.5 billion worth of equity and borrow another $ 1 billion – and intended to use the money to add a large amount of bitcoin to its balance sheet.
The deal has put TMTG in competitiveness with the growing stability of the Bitcoin accumulated stock, which acts as an alternative to invest in bitcoin, without any investors to handle the crypto itself. In theory, as the price of bitcoin rises and falls, the stock price of large bitcoin treasury companies should be priced.
“We see Bitcoin as a top tool of financial freedom, and now Trump Media will hold cryptocurrency as an important part of our assets,” said Divin Nons, CEO of TMTG, in a statement. “This is a huge step in plans to prepare the company’s project by acquiring crown jewelry assets, according to the first principles of the United States, according to the assets of the crown ornaments.”
TMTG’s embracing the crypto represents a small portion of a wider picture: Within the last year, Trump and his family have almost every segment of the crypto market, despite a number of complaints related to alleged abuses and interests of the post.
In January, in the opening days, Trump and his wife Melania both issued their craft coins, which increased their paper worth billions of dollars. In the same month, TMTG announced the launch of its new Fantric Division, the truth dot FI, which shortly after it offered the Crypto -related investment products to the public in partnership with Crypto Exchange Crypto.com. Meanwhile, President’s son Eric Trump and Donald Trump Jr. has promoted a separate crypto services company, the World Liberty Financial, and recently established a Bitcoin mining business, US BitCoin.
Crypto projects associated with Trump’s family have raised millions of dollars.
“Over time look back at Donald Trump’s plans over time,” says Austin Campbell, a professor of NYUS School of Business and Crypto Consultancy Zero Knowledge, says Austin Campbell, said Austin Campbell. “American Bitcoin is literally that playbook.”
In May, Eric Trump announced plans to take American Bitcoin to the public. Like the TMTG, the company also plans to get a big bit coin treasury and convert itself into Bitcoin collection stocks. “Our vision for American BitCoin is to create the most investing bitcoin platform for American BitCoin,” he said when announcing the project.
