Trump's Bold Crypto Move: A $3 Billion Ambition
Trump Media & Technology Group, owned by former U.S. President Donald Trump, aims to raise $3 billion to invest in cryptocurrencies, including bitcoin. Plans include $2 billion in equity and $1 billion through convertible bonds. The terms of this financial endeavor could still evolve.
In an ambitious financial maneuver, Trump's social media company, Trump Media & Technology Group, intends to raise a substantial $3 billion for cryptocurrency investments, according to a report by the Financial Times.
The company, which operates the Truth Social platform, is planning to generate $2 billion from fresh equity and an additional $1 billion through convertible bonds. This significant capital injection underscores the company's strategic pivot towards digital currencies.
The Financial Times highlighted that while the plans are robust, the specifics regarding the timing, terms, or exact size of the investment could still be subject to change. Trump Media Group has yet to make an official comment.
(With inputs from agencies.)
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