Trump Media Looking To Buy Bitcoin

President Trump's media company is looking to buy bitcoin. Trump media announced a $2.5 billion-dollar raise from institutional investors Tuesday, to bankroll one of the largest bitcoin treasury allocations by a public company. Shares of the company fell about 10% following the news. It's the latest and most ambitious move in Trump media's evolution from a free-speech social platform to a financial services player. The deal includes $1.5 billion in common stock and $1 billion in convertible notes with proceeds earmarked for the purchase of bitcoin, which the company will now hold as a core treasury asset. President trump indirectly owns more than 114 million shares of trump media through a revocable trust.