Trump Media Formally Signs $2.32 B Bitcoin Treasury Offer
In what is a significant moment for both the possession and the business, Trump Media & Technology Group (DJT) has officially signed a $2.32 billion deal to establish a Bitcoin treasury. Specifically, the move will see the company purchase and hold the leading cryptocurrency, according to a recent press release. The company behind the United States President’s Reality brand announced that the deal has closed the private offering with “50 institutional investors.” Moreover, the deal was made through the sale of over 55 million shares at an average price of $25.72 per share along with senior secured notes due in 2028 at a principal amount of $1 billion.
Since his return to the White House, US President Donald Trump has placed a clear focus on the cryptocurrency sector. That has extended to the company that bears his name. The firm announced this week its intention to inject billions into the asset class through a new treasury strategy. That deal has officially come to fruition today. Specifically, the Trump Media Group has signed the deal that will see the company hold and buy $2.32 billion worth of Bitcoin as a treasury asset. Although smaller than its previously mentioned $2.5 billion, it represents a significant moment for the asset class and the company.
The move represents one of the biggest Bitcoin treasury deals made by any public company. Furthermore, it firmly establishes Trump Media & Technology as one of the largest Bitcoin holders among US companies. “Trump Media is focused on acquiring great assets, and this deal will give us the financial freedom to carry out the rest of our plans,” CEO and Chairman Devin Nunes said. “It means the company will have more than $3 billion in liquid assets, and our shareholders will have exposure to Bitcoin.” “The deal positions Trump Media for the kind of rapid expansion that we’ve always envisioned,” Nunes added. The investment seems to have come at the right time. Earlier this year, Bitcoin reached an all-time high of $111,000. That looks to be just the beginning for the cryptocurrency.
