Trump Media and Technology Group, the social media company backed by former U.S. President Donald Trump, announced plans on Tuesday to raise approximately $2.5 billion to invest in bitcoin as part of a broader strategy to diversify its income and enter the financial services sector.
The fundraising effort includes $1.5 billion through stock sales at the firm’s most recent closing price and $1 billion in convertible notes offered at a 35% premium, according to the company’s statement.
Once raised, the bitcoin assets will be held on Trump Media’s balance sheet, alongside the company’s existing $759 million in cash and short-term investments as of the end of Q1. Anchorage Digital and Crypto.com have been tapped to provide custody services for the crypto holdings.
CEO Devin Nunes described bitcoin as the “apex instrument of financial freedom,” framing the investment as a major step toward acquiring “crown jewel assets” that align with America First principles.
Despite the announcement, the firm’s stock, which supports the Truth Social media and streaming platform, fell 6% in early trading.
Trump Media has been actively pursuing mergers and acquisitions to expand into financial products and services. Just last month, it finalized a deal to introduce retail investment offerings, including crypto-related and exchange-traded funds (ETFs) aligned with Trump’s political ideology.
The Trump family’s involvement in crypto has expanded rapidly, generating hundreds of millions of dollars across various ventures—from Trump-branded NFTs and a meme coin, to an interest in the American Bitcoin mining firm and the World Liberty Financial crypto exchange.
However, this aggressive push into crypto has also drawn attention from lawmakers. Senator Elizabeth Warren, a Democrat, recently questioned the SEC’s oversight of the upcoming Trump Media-backed ETFs, highlighting potential regulatory concerns.
