Trump Media and Blockchain Group Plan Major Bitcoin Buys

Trump Media & Technology Group, led by Donald Trump, has announced plans to raise $2.5 billion from about 50 institutional investors through the sale of common stock and convertible notes to build one of the largest Bitcoin treasuries among public companies. The funds will be used to purchase Bitcoin, managed by Crypto.com and Anchorage Digital, and support the company’s expansion into crypto-related products, including a utility token and new fintech offerings. CEO Devin Nunes described Bitcoin as a key tool for financial freedom, framing the move as part of a broader 'America First' strategy and a response to perceived financial discrimination. The announcement coincides with Trump’s growing involvement in cryptocurrency, including accepting crypto donations for his campaign and launching a memecoin. Separately, France’s Blockchain Group plans to buy 590 additional BTC (about $72 million) via a bond sale, aiming to reach 1% of Bitcoin’s supply by 2032. Both moves underscore a trend of public companies aggressively adopting Bitcoin as a treasury asset in 2024.