According to Odaily Planet Daily, Trump Media Group announced the completion of a private placement with approximately 50 institutional investors. This issuance includes the sale of 55,857,181 common shares at $25.72 per share, raising about $1.44 billion.

In addition, a principal amount of $1 billion in convertible senior secured notes due in 2028 was issued, with a conversion price of $34.72 per share. The two together raised approximately $2.44 billion.

Trump Media will use approximately $2.32 billion in net funds to establish a Bitcoin reserve and for other corporate purposes. After this issuance, Trump Media will become one of the publicly listed companies in the U.S. that holds the most Bitcoin.