The TMTG Group, a media company circulating for the audience controlled by the American President’s family, has announced a plan to purchase $ 2.5 billion from Bitcoin Tuesday.
The company, which runs the social media platform for social media in Trump, will collect money for purchases by offering its shares worth $ 1.5 billion and a $ 1 billion debt financing to 50 institutional investors whose name is not revealed, according to statement Released on Tuesday.
The $ 2.5 billion, which is at the current Bitcoin price of $ 110,000 to more than 22,500 icons, will be used to create a “Bitcoin Treasury”, according to the company. The Bitcoin Treasury is a stock of cryptocurrency in the long run by a government or company, and often for the purpose of diversifying the entity’s assets and hedging against inflation.
“We consider Bitcoin as APEX Financial Freedom, and now the media will hold Trump a coded currency as a decisive part of our assets,” said CEO of TMTG and former Congress member Divin Nunes.
TMTG’s investment will make the third largest company holder in Bitcoin, behind Michael Saylor strategy worth $ 63 billion from Bitcoin and Mara Crypto Mara at $ 5 billion from Bitcoin.
Investment news suspended in TMTG yet comes The company denied A Financial times a report On Monday, she planned to buy 3 billion dollars Bitcoin, during which FT was described as a “fake news” port.
This is not the first TMTG invasion in the encryption industry. In March, the company announced that it will participate with Crypto Exchange Crypto.com To launch the boxes circulating on the stock exchange to give investors the ability to access the price of encrypted currency and other traditional securities in the stock market.
The concept of the “Bitcoin Treasury” contract has become common among entities close to the president. In March, Trump signed an executive order to create a citizen Bitcoin Reserve For the American government, which consists of encryption that the government seized from illegal activities to harness the “force of digital assets for national prosperity”.
Recently, Cantor Fitzgerland, the previous financial services company, has announced US Secretary of Trade Howard Lottenic, a partnership with other companies including Stablecoin Giant Tether to launch a new entity called Twenty One Capital. The company plans to hold 42,000 Bitcoins when it is finally published, and seeks to work as an investment tool for people or companies looking to reach Bitcoin price movements.
This story was originally shown on Fortune.com
