US President Donald Trump’s social media enterprise revealed its strategy on Tuesday to secure approximately $2.5 billion, with intentions to establish a “bitcoin treasury”, while confirming cryptocurrency’s significant role in its portfolio.Trump Media & Technology Group, the operator of Truth Social platform, confirmed in its announcement that it has secured subscription arrangements with approximately 50 institutional investors, as reported by AFP.The agreements stipulate the company’s commitment to issue and distribute roughly $1.5 billion in common stock alongside $1.0 billion in convertible senior secured notes through a private placement offering.“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 Media’s 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,” said the company in its press release.The company indicated the offering should conclude around May 29. Their stock value experienced a 10.4 percent decline at closing. “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 Trump Media CEO Devin Nunes.He further added that the investment would “help defend our Company against harassment and discrimination by financial institutions.”The organisation expressed its intention to broaden its influence “throughout the America First economy,” revealing that Anchorage Digital would provide custody services for its bitcoin treasury.Trump has declared his intention to transform the United States into the “crypto capital of the world.”Trump’s recent interest in digital currencies has developed into several ventures, primarily managed by his eldest sons.
