Trump Media e Technology Group, a company listed on the stock exchange in which the President of the United States Donald Trump and his family have a majority participation, has collected $ 2.5 billion to accumulate a “Bitcoin treasure”.
Monday, in the answers to postponement From the Financial Times, TMTG initially denied to contemplate this maneuver. “The Financial Times has stupid writers who listen to even more stupid sources”, according to the company. But Trump Media and Technology Group seems to have changed his melody sincere.
In a press release We kill, TMTG has confirmed that it has agreed to sell $ 1.5 billion of capital and take on further $ 1 billion debt and plans to use the process to add a large amount of bitcoin to its budget.
The agreement puts TMTG in competition with a growing stable of Bitcoin accumulation securities, which act as substitutes for spells to invest in bitcoin, without investors should Manage cryptocurrencies. In theory, with the increase in the price of Bitcoin and false, also the price of the shares of the companies with large Bitcoin titles.
“We consider Bitcoin as an Apex of financial freedom tool and now Trump Media will hold the cryptocurrency as a crucial part of our activities,” said Devin Nunes, CEO of TMTG. “It is a big step forward in the plans of the company to evolve in a holding company by acquiring further jewel activities that generate profits consist with the first principles of America.”
The hug of TMTG Crypto represents a small part of a more elaborate picture: in the last year, Trump and his family have forged in almost any segment of the cryptocurrency market, despite a lament chorus for presumed Office abuse AND Conflicts of interest.
In January, in the days preceding the inauguration, Trump and his wife Melania both Has issued their cryptocurrency coinsAdding billions of dollars to the value of their card. That month, TMTG announced the Launch of Truth.fi, his new Fintech division, who collaborated shortly after With Crypto Exchange Crypto.com in order to offer the public the investment products relating to cryptocurrencies. Meanwhile, the children of President Eric Trump and Donald Trump Jr. World Liberty FinancialAnd recently he established a Bitcoin mining activity, American Bitcoin.
The Crypto Ventures associated with the Trump family have collected hundreds of millions of dollars, in part For sale crypto corners Public investment and party by acquiring activities in Offers cut with commercial partners.
“Look at the initiatives of Donald Trump over time … it is essentially marketing and an integrated audience in exchange for a relatively large cut,” says Austin Campbell, contract professor at the Nyu Stern School of Business and Managing Partner at Crypto Consultancy Zero Knowledge. “American Bitcoin is literally that playbook.”
In May, Eric Trump Announced It plans to make American Bitcoin public. Like TMTG, the company intends to increase a great treasure of Bitcoin and turn into a bitcoin accumulation title. “Our vision for the American Bitcoin is to create the most investable Bitcoin accumulation platform on the market,” he said when he announced the plan.
