Yesterday the Financial Times (FT) cited sources in reporting that Trump Media & Technology Group, the owner of the Truth Social app, plans to raise money to invest in Bitcoin. It aims to follow a similar model to Strategy (formerly MicroStrategy) involving raising $2 billion in capital and issuing $1 billion in convertible debt.
When the FT approached Trump Media its response was that “apparently the Financial Times has dumb writers listening to even dumber sources”. Update: Trump Media announced it raised $1.5 billion in common stock and $1 billion in 0% convertible debt in order to create a Bitcoin Treasury.
President Trump placed his 53% stake in Trump Media in a revocable trust controlled by Donald Trump Jr. shortly after his election as President for the second time.
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