News of huge fundraising exercise comes a day after firm’s blustery denial it had any such plan and sends share price tumbling.
(Photo of Mariia Shalabaieva on Unsplash)
Posted May 28, 2025 at 10:04 am EST.
Trump Media & Technology Group, the Trump family-controlled company behind Truth Social, has confirmed it will raise $2.5 billion to invest in bitcoin, reversing a blunt denial of a Financial Times report that it was set to embark on a multibillion-dollar capital raise for crypto investment.
The company’s unapologetic about-face comes only a day after it lashed out at the FT, which it accused of having “dumb writers listening to even dumber sources.”
Trump Media and Technology’s Nasdaq-listed stock fell more than 12.5% in just five minutes in early trading on Tuesday following the news, and extended the slump to over 15% later in the trading session before clawing back some of those losses in after-market trade to end Tuesday almost 12% lower.
The firm said it would raise $1.5 billion through a private placement of common stock, and that another $1 billion would come from convertible senior zero coupon secured bonds.
Around 50 institutional investors are participating in the funding round, which is expected to close on or around May 29.
The funds will be used to create a dedicated Bitcoin treasury, making Trump Media & Technology one of the biggest public corporate holders of bitcoin. The holdings will be managed by Anchorage Digital and Crypto.com.
This story is an excerpt from the Unchained Daily newsletter.
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“We view Bitcoin as an apex instrument of financial freedom, and now Trump Media will hold cryptocurrency as a crucial part of our assets,” Trump Media CEO and former congressman Devin Nunes said.
The move by Trump Media & Technology is just one among a number of bitcoin accumulation initiatives as companies follow the trail blazed by Michael Saylor’s Strategy, which has made huge investments in the original cryptocurrency.
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