Trump’s Media Company to Buy Bitcoin, Investors to Buy $2.5B of Stock

Donald Trump’s media company said on Tuesday that institutional investors will buy $2.5bn worth of its stock, with the proceeds going to build up a bitcoin reserve.

About 50 institutional investors will put up $1.5bn in the private placement for common shares in Trump Media and Technology Group, the operator of Truth Social and other companies, and another $1bn for convertible senior notes, according to an announcement from the company.

Read more at The Guardian