Trump Media and Technology Group (DJT), the company that is quoted in the stock market that operates the social media site Truth Social, on Tuesday announced a capital increase of $ 2.5 billion to create a Bitcoin BTC Treasury.
The company has signed a subscription agreement with about 50 institutional investors, issuing $ 1.5 billion in ordinary shares and $ 1 billion in high -level convertible notes, according to a press release. The offer is expected to close on May 29. Crypto.com and Anchorage Digital will provide custody services for the company’s BTC tenure.
The story was initially reported Monday by the Financial Times.
DJT jumped more than 10% in the prior action to the market, but has become modestly lower in the early regular session trade. Bitcoin is marginally higher, quoting just above $ 110,000.
