Trump Media says investors will fund a company ‘bitcoin reserve’ through share purchases
Associated Press President Donald Trump s media company stated Tuesday that institutional investors will buy billion in the company s stock with the proceeds going to build up a bitcoin reserve Related Articles Kennedy says COVID vaccines no longer recommended for healthy children and pregnant women Judge accuses the Trump administration of manufacturing chaos in migrant deportation development Here s what a Texas oil executive from DOGE is doing inside the Interior Department Trump targeted Democrats over questionable online fundraising His campaign has similar issues NPR sues Trump administration over executive order to cut federal funding to inhabitants media About institutional investors will put up billion in the private placement for common shares in the company and another billion for convertible senior notes according to Trump Media and Equipment Group the operator of Truth Social and other companies Trump Media noted it intends to use the proceeds for the creation of a bitcoin treasury This funding will help defend our Company against harassment and discrimination by financial institutions which plague multiple Americans and U S firms announced Trump Media CEO and Chairman Devin Nunes in prepared remarks Shares of Trump Media Machinery Group Corp based in Sarasota Fla tumbled Other companies have adopted similar strategies through cryptocurrency Cloud and mobile solution developer MicroStrategy Inc has built up a treasury reserve containing billions worth of bitcoin through stock sales and debt financing Trump who referred to cryptocurrencies in his first term as not money citing volatility and a value based on thin air has shifted his views on the machinery During an event at his Mar-a-Lago club in Florida during his presidential campaign in May Trump received assurances that crypto industry backers would spend lavishly to get him reelected Last week Trump rewarded of the top investors in one of his other cryptocurrency projects the Trump meme coin with a swanky dinner luxury golf club in Northern Virginia spurring accusations that the president was mixing his duties in the White House with personal profit
