U.S. President Donald Trump is making a big move in terms of Bitcoin ($BTC) investment. As per the exclusive reports, Donald Trump has plans to allocate up to $3B to be invested in bitcoin through his media empire “Trump Media & Technology Group” after an exclusive fundraising. The move has drawn the attention of the entire crypto community.
Trump’s TMTG to Invest $3B in Bitcoin ($BTC) and Launch Crypto ETF
The Trump Media & Technology Group (TMTG) is endeavoring to raise almost $3B to invest in the flagship crypto asset Bitcoin ($BTC). In addition to this, TMTG also intends to unveil a crypto exchange-traded fund (ETF). Hence, if this development is carried out successfully, it would make TMTG the biggest $BTC holder on institutional level within the United States.
In this respect, $3B allocation marks a dramatic shift for the key figure who was once not in favor of digital asset investment. In line with the institutional documents, TMTG’s focus is on raising $2B for the purpose of equity funding while another $1B via a convertible bond. The collected funds will be utilized to acquire Bitcoin ($BTC) in huge quantities apart from the launch of an ETF.
Driving TMTG’s Position Among Top $BTC Holders Like Strategy
This would be a crucial contribution to elevating TMTG’s position among the top $BTC holding institutions like Strategy. The development is taking place parallel to a huge Las Vegas-based crypto event that is planned to occur next week. The event will include notable figures like Senator JD Vance, Eric Trump, and Donald Trump Jr.
The reports point out that the move of allocating $3B for Bitcoin investment is also a sign of a noteworthy development in the crypto sector. Amid the ongoing bullish outlook, this development can bring about a massive upturn, specifically in Bitcoin’s price. In the meantime, the traders are keenly looking at Trump’s next moves to determine the further direction of the market.
