Trump Buys $2.5 Billion in Bitcoin to Establish Treasury
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Trump Buys $2.5 Billion in Bitcoin to Establish Treasury
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The Trump Media and Technology Group recently purchased about $2.5 billion worth of Bitcoin, a move that in part signifies the start of the Bitcoin reserve for the U.S. Treasury.
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From the Trump Media and Technology Group:
Trump Media and Technology Group Corp. (Nasdaq, NYSE Texas: DJT) (“Trump Media” or the “Company”), operator of the social media platform Truth Social, the streaming platform Truth+, and the FinTech brand Truth.Fi, announced today that it has entered into subscription agreements with approximately 50 institutional investors, under which the Company agreed to issue and sell approximately $1.5 billion in the Companyās common stock and $1.0 billion in principal amount of 0.00% convertible senior secured notes, for gross proceeds of an aggregate approximately $2.5 billion, in a private placement offering (the āOfferingā).
The Offering is expected to close on or about May 29, 2025, subject to satisfaction of customary closing conditions.
The Company intends to use the proceeds for the creation of a Bitcoin treasury. One of the largest Bitcoin treasury deals of any public company, the move closes Trump Mediaās previously announced special acquisition fund, which is one of numerous ways, including through potential mergers and acquisitions, that the Company is aiming to expand its reach throughout the America First economy.
It is important to remember that, in early March, President Trump signed an executive order to establish a strategic Bitcoin reserve for the nation. While the press release only mentions creating a Bitcoin treasury for Trump Media, this purchase will likely also go toward Americaās Bitcoin reserve.
As our world becomes increasingly digital, cryptocurrencies like Bitcoin will only become more and more important. Letās pray that the Lord guides the President and all others in authority as they navigate this new digital world!
How are you praying about cryptocurrency? Share your prayers and scriptures below.
(Press release from Trump Media and Technology Group via Globe Newswire. Photo Credit: Michael Fƶrtsch on Unsplash)
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