Trump Media Raises $2.44 Billion for Bitcoin Investment

Trump Media and Technology Group has secured a $2.44 billion funding round from over 50 institutional investors to establish one of the largest Bitcoin treasuries within publicly-traded U.S. companies. This private placement involved the sale of 55.8 million shares at $25.72 each, generating $1.44 billion, and $1 billion in 0% convertible senior secured notes due 2028, convertible at $34.72 per share. The proceeds will be utilized for Bitcoin acquisition and general corporate operations. Crypto.com and Anchorage Digital have been contracted to provide custody services for the Bitcoin treasury.