Trump Media and Technology Group (TMTG), the company which has the social platform of truth of the American president Donald Trump and partly belongs to the president, confirmed a capital increase of $ 2.5 billion to buy Bitcoin (BTC) after having denied previous reports on the agreement.
According to a May 27 announcement Since the company, the capital increase includes a sale of stocks of $ 1.5 billion and $ 1 billion in convertible guaranteed bonds, with a 0%coupon. The sale should end on May 29. TMTG CEO, Devin Nunes, said:
“We consider Bitcoin as an instrument of financial freedom, and now Trump Media will hold cryptocurrency as a crucial part of our assets. This investment will help defend our business against harassment and discrimination by financial institutions.”
TMTG spokesperson responded to the initial report From The Financial Times, published the day before the announcement, mocked.
“Apparently, the Financial Times has stupid writers who listen to even more stupid sources”, ” TMTG representatives said to FT.
TMTG shares fell by more than 12% after the announcement and negotiated about $ 23.60 at the time of publication.
The financing agreement is an increasing number of companies and countries adopt Bitcoin cash strategies as digital assets matures in a financial instrument of geopolitical importance.
In relation: Can the Bitcoin 2024 conference sparked a 30% price accident – can bulls escape this year?
Bitcoin cash companies continue to accumulate
Several Bitcoin cash companies have increased their assets in May this year, Including Michael Saylor’s strategy. According to SaylortrackerThe company acquired 4,020 additional BTC on May 26.
Technological company Semler Scientific bought 455 BTCAssessed at more than $ 50 million, for its treasure, an acquisition that the company has disclosed in a file of May 23.
The investment company Metaplanet, widely considered by investors as the microstrategy of Japan, acquired Additional 1,004 BTC on May 19.
The Jesse Myers market analyst recently predicted that at the current rate of institutional accumulation, the big entities Have 50% of the total Bitcoin supply by 2045. MYERS added that this growth in institutional adoption is motivated by a flight to the safety of traditional asset classes. “Over the past two years, an exodus of Fiat – Obligations and Money assets – has already started. job. Review: Metric signals $ 250,000 Bitcoin is “best case”, soil, media threshing for gains: trade secrets