FT reported Trump Media & Technology Group (DJT) will raise $3 billion to invest in cryptocurrencies.
The SEC filing indicates a private $1.5 billion equity raise and a $1 billion debt offering. The other funds intended for Bitcoin purchases are already on hand.
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 held cash, cash equivalents, and short-term investments totaling $759.0 million).
Bitcoin is one of the cryptocurrencies targeted by corporate treasuries. Others include Trump's memecoin and his USD1 stabelcoin via World Liberty Financial (another Trump crypto entity). World Liberty just did a $2 billion deal with a United Arab Emirates company sponsored by the country's sovereign wealth fund.
TMTG's majority shares are held by DJT Revocable Trust managed by Don Jr, who alongside brother Eric have stakes in American Bitcoin. So Don Jr. could have TMTG buy its Bitcoin from American Bitcoin and make double bank.
It's important to remember the lengthy history crypto has as a tool for scammers, grifters, thieves, cheats and all around terrible people. Was that who our President referred to as scum in his Memorial Day blathering?
How long before Trump Media expands it treasury from Bitcoin to $TRUMP or USD1?
