Trump Media Raises $2.3B to Build Bitcoin Treasury as It Files for ETF 💼
Trump Media & Technology Group (TMTG), led by former U.S. President Donald Trump, is venturing into the cryptocurrency sector. The company secured $2.32 billion through stock sales and convertible debt with plans to bolster its Bitcoin treasury. Additionally, TMTG has filed for a Bitcoin Exchange-Traded Fund (ETF), marking a significant step in its crypto journey.
This move reflects a growing interest in cryptocurrencies among large enterprises, aligning with TMTG's ambition to integrate digital assets into its business model. The funds raised will predominantly support the accumulation of Bitcoin as part of the company's strategic plan.
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