When Donald Trump is looking for $ 2.5 billion to buy bitcoin
While Donald Trump Invites $ Trump holders to a luxurious private dinnerthe parent company of Truth Social plans to issue $ 1.5 billion in shares and a billion dollars in convertible bonds to finance this operation. Capitals will be used to constitute a huge bitcoin reserve in the Trump Media asset portfolio.
A huge Bitcoin reserve for the Trump Empire
Crypto.com and the Digital Anchorage Banking Platform will take care of Trump Media’s Treasury for the Treasury. Their role is to guarantee the securing of these digital assets with considerable value.
“We consider Bitcoin as an Apex instrument of financial freedom, and now Trump Media will hold cryptocurrencies as the crucial part of our assets”declares Devin Nunes, CEO of Trump Media, in the press release. “Our first acquisition of an asset jewel of the crown, this investment will help defend our business against harassment and discrimination by financial institutions.”
This is a little surprising decision: Donald Trump has already shared his plans to create a cryptocurrency federal reserve With in particular Bitcoin, proof of its close links with industry. The Trump administration even softens the regulations. Since then, the Securities and Exchange Commission has abandoned the trials and surveys involving Coinbase, Kraken and Robinhood.
Trump Media created, earlier this year, a subsidiary Fintech called Truth.fi. The Trump family also supports the start-up World Liberty Financial which has collected millions in transaction, “Lifting the border between private enterprise and government policy” according to the New York Times.
As a reminder, the Trump administration said its reserve of government cryptocurrencies will be funded by assets seized during criminal or civil confiscation. The measure could indirectly benefit to Trump Media.
