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REAL Truth

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Cyril

shared a link post in group #REAL Truth

President Donald Trump’s media company is raising $2.5 billion from big investors to buy bitcoin, deepening the president’s involvement in cryptocurrency. Trump Media & Technology Group, which operates Trump’s social media company Truth Social, will be following the lead of several other big players in crypto including Strategy, formerly Microstrategy. The companies’ stocks have been driven much higher than the value of the bitcoin they hold, giving them an incentive to sell stock to buy more bitcoin. Shares of Trump Media & Technology fell more than 10% on Tuesday. The company is selling $1.5 billion worth of company stock and $1 billion in convertible bonds that pay 0% in interest and are due in 2028. Bitcoin purchases by companies like Strategy as well as popular bitcoin exchange-traded funds have pushed the price of the cryptocurrency to record levels. Trump’s money-losing company stands to benefit if it holds bitcoin when the president launches his promised bitcoin reserve. Trump Media and Technology is separate from World Liberty Financial, a crypto company backed by his two sons. World Liberty started a stablecoin that is valued at more than $2 billion. #REAL Truth sec.gov/ix?doc=/Archives/..

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