💨 Abstract
Despite initial skepticism, former President Donald Trump's media company, Trump Media and Technology Group, announced a $2.5 billion investment from institutional investors. The funds will be used to build a bitcoin reserve and will be obtained through the sale of common stock for $1.5 billion and convertible senior notes for $1 billion. These actions follow recent shifts in Trump’s stance on cryptocurrencies, including raising crypto support during his presidential campaign and offering incentives to major crypto investors.
Courtesy: WTOP Staff
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