Trump Media & Technology Group Corp., the company behind Truth Social, agreed to sell around $1.5 billion in stock and $1 billion in convertible bonds to buy Bitcoin for its treasury.
The company’s shares fell as much as 9.8% on Tuesday after rallying premarket following a Financial Times report on its plans to raise capital to spend on cryptocurrencies.
Trump Media is the latest company connected to President Donald Trump to invest in crypto. PSQ Holdings, which his son Donald Trump Jr. sits on the board of, also announced plans on Tuesday to explore a digital asset treasury ...
