Trump Media to raise $2.5 billion to build a bitcoin reserve

President Donald Trump’s media company said Tuesday that institutional investors will buy $2.5 billion in the company’s stock with the proceeds going to build up a bitcoin reserve.

About 50 institutional investors will put up $1.5 billion in the private placement for common shares in the company and another $1 billion for convertible senior notes, according to Trump Media and Technology Group, the operator of Truth Social and other companies.

Trump Media said it intends to...