Trump Media to Raise $2.5 Billion for Bitcoin Treasury

The company said it views bitcoin as ‘an apex instrument of financial freedom.’

Bitcoin and U.S. currencies are displayed on a screen as delegates listen to speakers during the Interpol World Congress in Singapore on July 4, 2017. Dominic Gwinn/AFP via Getty Images

Trump Media & Technology Group (TMTG) said on May 27 that institutional investors will purchase $2.5 billion in the company’s stock, with the proceeds going toward a bitcoin reserve.

The deal comprises $1.5 billion in common stock and another $1 billion in convertible notes priced at a 35 percent premium, according to a statement from the media group, which is owned by President Donald Trump.