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The Guardian - US
The Guardian - US
World
Guardian staff and agencies

Trump’s media company to take $2.5bn investment to buy bitcoin

Bitcoin Donald Trump Truth Social Devin Nunes Trump Media Cryptocurrency
a man in a suit speaks while seated at a desk
Donald Trump speaks at the White House on 23 May. Photograph: Samuel Corum/EPA

Donald Trump’s media company said on Tuesday that institutional investors will buy $2.5bn worth of its stock, with the proceeds going to build up a bitcoin reserve.

About 50 institutional investors will put up $1.5bn in the private placement for common shares in Trump Media and Technology Group, the operator of Truth Social and other companies, and another $1bn for convertible senior notes, according to an announcement from the company.

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