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Trump Media has completed raising approximately 350 billion yen and has started its Bitcoin financial strategy.
Trump Media & Technology Group announced on May 30 the completion of a private placement for approximately 50 institutional investors. The company operates the social media "Truth Social," the streaming service "Truth+," and the fintech "Truth.Fi."
The total amount raised this time reached approximately $2.44 billion, with a net amount of about $2.32 billion allocated for the financial strategy of the cryptocurrency Bitcoin (BTC) and general corporate purposes.
The company's CEO and Chairman Devin Nunes stated, "We are focused on acquiring quality assets, and this transaction will give us the financial freedom to execute our strategy." Liquid assets will exceed $3 billion, and shareholders will gain exposure to Bitcoin.
This transaction will make the company one of the largest publicly traded companies in the U.S. to hold Bitcoin. In addition to the $759 million in cash and cash equivalents held at the end of the first quarter, Bitcoin is expected to be included on the balance sheet.