Trump Media raising $2.5 billion to establish bitcoin treasury
Trump Media & Technology Group announced today they will “issue and sell approximately $1.5 billion in the Company’s common stock and $1.0 billion in principal amount of 0.00% convertible senior secured notes” to establish a bitcoin treasury.
Yesterday, The Financial Times reported the company was raising $3 billion to buy bitcoin and other crypto assets. Trump Media shares were up as much as 13% in premarket Monday morning but dropped 9% after the market opened. Bitcoin’s price was hovering around $110,000 this morning, just days after reaching a new all-time high of $111,814 on May 22.
The move comes ahead of the Bitcoin 2025 conference in Las Vegas. Vice President JD Vance, as well as President Trump’s sons Eric and Donald Jr., are speaking at the event.
The company earlier denied the FT report, telling the outlet in a statement, “Apparently the Financial Times has dumb writers listening to even dumber sources.”
This would be the latest in a growing move into crypto for the Trump family. Last week, Trump hosted his $TRUMP meme coin dinner, which sparked considerable controversy.
Trump Media, the parent company of Truth Social, announced the launch of the financial services and fintech brand Truth.Fi in January, and in February, it applied for trademarks for a slew of “America First-themed” ETFs, including one for bitcoin, the Truth.Fi Bitcoin Plus ETF.
The move comes ahead of the Bitcoin 2025 conference in Las Vegas. Vice President JD Vance, as well as President Trump’s sons Eric and Donald Jr., are speaking at the event.
The company earlier denied the FT report, telling the outlet in a statement, “Apparently the Financial Times has dumb writers listening to even dumber sources.”
This would be the latest in a growing move into crypto for the Trump family. Last week, Trump hosted his $TRUMP meme coin dinner, which sparked considerable controversy.
Trump Media, the parent company of Truth Social, announced the launch of the financial services and fintech brand Truth.Fi in January, and in February, it applied for trademarks for a slew of “America First-themed” ETFs, including one for bitcoin, the Truth.Fi Bitcoin Plus ETF.
