Trump Media Denies $3B Plan To Buy Bitcoin, Calls FT Report “Dumb”
Trump Media and Technology Group has denied a Financial Times report that it plans to raise $3 billion to buy Bitcoin and other cryptos, slamming its ”dumb writers listening to even dumber sources.” That’s after the newspaper reported on May 26 that the company was looking to raise the capital through a mix of equity and convertible bonds, citing six people the outlet claimed were briefed on the matter. FT Said Trump Media To Raise $2B In Equity, $1B In Convertible Bonds According to the report, Trump Media was planning to issue $2 billion in equity and $1 billion in convertible bonds for the total $3 billion raise. The equity was expected to be sold at market price at the closing price for Trump Media (DJT) shares on May 23. During the trading session, the company’s stock jumped over 4% to close the day at $25.72, pushing the company’s market capitalization to $5.7 billion, according to Google Finance data . Had Trump Media raised the c...