Trump Media Raises $2.4 Billion for Bitcoin Acquisition

Trump Media and Technology Group Corp. secured a $2.44 billion private placement, establishing a substantial Bitcoin reserve. The move involved 50 institutional investors, marking a significant step in the adoption of Bitcoin by financial institutions within the U.S. This is considered a major turning point for U.S. crypto markets as it signals a shift toward institutional investment in digital currencies. Trump Media’s CEO, Devin Nunes, highlights its strategic intent to leverage Bitcoin for acquisitions and rapid growth, adding over $3 billion in liquid assets to their portfolio. However, the move sparked initial stock market volatility, leading to a 10% decline before rebounding with a 6.6% increase following a subsequent announcement, though the company remains down over 36% this year. Experts anticipate a shift in financial strategies as other companies are expected to follow suit, prompting regulatory scrutiny regarding cryptocurrency assets in capital markets.