Trump Media and Technology Group (TMTG) has raised $2.5 billion to expand its assets by accumulating bitcoin. Initially, TMTG dismissed reports of this move, but later confirmed plans to sell $1.5 billion in equity and take on $1 billion in debt for this purpose. CEO Devin Nunes emphasized the importance of bitcoin as a financial freedom instrument. This development positions TMTG within a competitive landscape of companies accumulating bitcoin, following Trump's family's previous ventures into the crypto market despite ongoing controversies surrounding their actions.
We view bitcoin as an apex instrument of financial freedom, and now Trump Media will hold cryptocurrency as a crucial part of our assets, said TMTG CEO Devin Nunes.
The Financial Times has dumb writers listening to even dumber sources, TMTG initially denied contemplating any such maneuver.
...Trump and his family have forged into almost every segment of the crypto market, despite a chorus of complaints relating to alleged abuses of office.
This deal puts TMTG in competition with a growing stable of bitcoin accumulation stocks, which act as a substitute of sorts for investing in bitcoin.
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