What to know:
- In a move that can only be described as “bold” (or perhaps “slightly bonkers”), Trump Media and Technology Group has announced a $2.5 billion capital raise to create a bitcoin treasury. Because why not? 💰
- The company has managed to charm about 50 institutional investors into agreeing to cough up $1.5 billion in common stocks and $1 billion in convertible notes. Clearly, they have a knack for persuasion! 🤑
- The news — initially reported on Monday by the Financial Times, which is apparently still in business — gave a modest but fleeting bump to both DJT stock and BTC. A bit like a caffeine rush, but without the jitters. ☕
Trump Media and Technology Group (DJT), the publicly-traded entity that operates the social media site Truth Social (yes, that one), has decided that a $2.5 billion capital raise for a bitcoin treasury is just what the universe ordered. Who needs a stable economy when you can have cryptocurrency? 🌌
The company has entered into a subscription agreement with about 50 institutional investors, issuing $1.5 billion in common stock and $1 billion in convertible senior secured notes. According to a press release, the offering is expected to close on May 29. Because nothing says “trust us” like a deadline! ⏳
Crypto.com and Anchorage Digital will be providing custody services for the firm’s BTC holding. Because if you’re going to gamble with billions, you might as well have a fancy vault to keep your shiny coins in! 🔐
The story was initially reported on Monday by the Financial Times, which is still trying to figure out how to make sense of all this. Good luck with that! 📰
DJT jumped more than 10% in premarket action, but has since turned modestly lower in early regular session trading. Bitcoin, on the other hand, is marginally higher, trading just above $110,000. So, if you’re keeping score, that’s a win for the crypto enthusiasts and a slight frown for the stockholders. 📉
Read More
- LINEA’s Wild Ride: From Sky-High to Down in the Dumps 🚀📉
- Bitcoin Hits $111K: Is This the Start of a Crypto Comedy Show? 🎭💰
- Bitcoin’s Wild Dance: Fed’s Snip Sends It Soaring, Then Tumbling! 🪙💨
- Interactive Brokers: Crypto Cash, Now With More Sarcasm!
- 11,000 Wallets Fight for NIGHT Tokens in Cardano Airdrop-And It’s a Disaster 🤦♂️
- NFTs Soar to New Heights: Is the Bull Run Truly Back? 🚀💰
- Is Onyxcoin’s Rocket Losing Steam or Just Fueling Up? 🚀🧐
- Jito’s Spectacular Rise: The Token That Just Won’t Quit! 🚀
- You Won’t Believe Who’s Bargain-Hunting for Mt. Gox Bitcoin! 🤑
- XRP’s $2 Hold: A Crypto Tale with Bulls, Breakouts, and a Dash of Drama 🐂💥
2025-05-27 17:23