Trump Media announced plans to invest $2.5 billion in bitcoin

According to representatives of Trump Media and Technology Group, owned by the family of the US President, the company intends to raise about $2.5 billion to make investments in bitcoin. The organization aims at diversifying its revenues and expanding its presence in the financial sector.

Funds for the purchase of the main cryptocurrency will be raised by selling $1.5 billion worth of stocks and $1 billion in convertible bonds.

Under the company's plans, the bitcoins purchased will be recognized on Trump Media's balance sheet along with existing assets and securities. At the end of the first quarter, they amounted to a total of $759 million. Anchorage Digital and Crypto.com platforms will be responsible for storing the bitcoins.

According to Trump Media CEO Devin Nunes, bitcoin is the primary tool of financial freedom for the company. The decision to purchase a significant amount of the coin is part of the organization's larger strategy to acquire valuable assets.

As reported by Al Jazeera, Trump Media is exploring mergers and acquisitions in an attempt to expand its operations in the industry of finance.