Trump Media Group Refutes Reports of $3 Billion Crypto Investment Plans

Trump Media and Technology Group, the creator of Truth Social, has denied claims about plans to raise $3 billion for buying Bitcoin and other cryptocurrencies. A report by the Financial Times sparked this buzz, quoting unnamed sources. Trump Media dismissed the article, saying the reporters are misinformed.

If true, this move would put Trump Media in the ranks of other companies investing heavily in Bitcoin. The Financial Times suggested the company aimed to issue $2 billion in equity and $1 billion in convertible bonds. Convertible bonds allow investors to change their bonds into shares later. This financial strategy mirrors efforts by firms like Strategy and Metaplanet, which have invested in cryptocurrency to safeguard against inflation and instability.

Recent trends show growing interest in cryptocurrency as a hedge. According to a recent survey by Chainalysis, over 15% of U.S. adults now hold some form of cryptocurrency, indicating a shift toward digital assets. Many users think cryptocurrencies offer protection in an uncertain economy.

Trump Media’s potential move could increase oversight on its crypto activities. Some Democratic lawmakers have raised concerns over Trump’s involvement in the crypto space, citing possible conflicts of interest. Following the report, they opposed bills that could benefit Trump’s crypto ventures.

Critics point out that Trump’s variety of ventures—ranging from NFTs to a stablecoin—might benefit him personally. Recently, Trump transferred his 53% stake in his company to a trust managed by his son, Donald Trump Jr., which raises more eyebrows about this potential conflict.

As the crypto landscape continues to evolve, it remains to be seen how Trump’s plans will unfold and what impact they will have on his family’s business dealings.



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