- Trump Media has raised $2.5 billion to build a Bitcoin treasury, marking one of the largest corporate crypto moves to date as Bitcoin tests key resistance near $112,000.
The parent company of Truth Social, Trump Media & Technology Group (DJT), on Tuesday announced a $2.5 billion capital raise to build a Bitcoin treasury.
The announcement coincides with Bitcoin 2025, the largest Bitcoin-focused event of the year, currently underway in Las Vegas. Despite the bullish signal from Trump Media, shares of the company closed down approximately 10%.
Currently, Bitcoin is trading near $110,000, testing a resistance zone between $110,000 and $112,000. Price action near this level shows indecision. Immediate support is possibly observed around $103,000 to $105,000. While the long-term trend maybe remains bullish, the current price action could indicate a possible consolidation or pullback in the near term.
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