Trump Media says it’s raising $2.5 billion to buy Bitcoin

Trump Media, the parent company of Truth Social, has announced a $2.5 billion raise from institutional investors to purchase bitcoin.

The company plans to hold the bitcoin as a core treasury asset, with a market cap of around $5.3 billion. This move is seen as a defensive strategy to protect the company from "discrimination by financial institutions" against conservative businesses.

The company's CEO, Devin Nunes, described bitcoin as an "apex instrument of financial freedom" and said this is just the first of many "crown jewel" acquisitions the firm will pursue.