Is Trump Media set to collect $12 billion: Could there be a fresh round of Bitcoin acquisitions on the horizon?
Trump's digital kingdom, Trump Media & Technology Group (TMTG), is gearing up for a grand financial move, aiming to amass a war chest of $2.5 billion through securities offerings. The funds will be used to take a sizable bite out of the Bitcoin pie.
The SEC filings reveal that TMTG has its eyes set on various securities, such as common and preferred shares, debt securities, options, and warrants. To give you an idea of the size of this investment, 84.6 million common shares are up for grabs, with approximately $1.44 billion expected from institutional investors. The conversion of $2028 zero-coupon bonds into shares could potentially bring in an additional $1 billion.
The pricing of these shares will vary depending on the sales channel, and TMTG assures that the revenue generated will only flow into their coffers, with no profit from existing shareholder sales.
Bitcoin Bonanza: A $2.5 Billion Bet
Rumors have been swirling around for a while about TMTG planning to drop $3 billion on Bitcoin. However, recent reports suggest that around $2.5 billion has been successfully secured, with $1.5 billion coming from share sales and another $1 billion from discounted bonds.
These newly acquired Bitcoins have found a home on TMTG's balance sheet, with Crypto.com and Anchorage Digital handling the secure storage. With this investment, TMTG is aligning Bitcoin with their existing assets like cash, cash equivalents, and short-term investments.
As more companies jump on the crypto bandwagon, it's only natural to wonder if TMTG will repeat this Bitcoin buying spree with their fresh $2.5 billion funds. As of now, no official statement has been made regarding this matter.
So, buckle up folks, it seems we're in for a wild ride with Trump's Bitcoin adventure!
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- In light of the recently secured funding of $2.5 billion, TMTG is poised to make significant investments in cryptocurrency, particularly Bitcoin, as a part of their technology and finance strategy.
- The recently acquired Bitcoin, worth around $2.5 billion, positions TMTG as a key player in the cryptocurrency market, aligning digital assets with their existing portfolio of financial securities.
