Trump Media & Technology Group, the parent company of Truth Social, said on Tuesday that it would raise $2.5 billion from institutional investors to invest in Bitcoin, continuing its transformation from a social media company into a financial services and crypto play.

Trump Media, whose largest shareholder is President Trump, said it would raise $1.5 billion from about 50 institutional investors by selling roughly 58 million shares. The company is planning to raise an additional $1 billion from the sale of bonds that can also be converted into shares at a later date.

The announcement came as the president and his family have become more involved in a number of crypto companies. Mr. Trump owns a little over 50 percent of Trump Media’s stock, making his roughly $2.7 billion stake one of his most valuable investments.

The sale of the new shares will potentially dilute the value of Trump Media’s stock, including the 115 million shares that Mr. Trump owns. The president’s shares are held in a trust managed by his eldest son, Donald Jr., who also is a Trump Media board member.

As part of the deal, which could close as soon as Thursday, the shares will be sold at $25.72.

Shares of Trump Media were down over 10 percent at the close of trading on Tuesday. The stock is down 31 percent for the year.

Trump Media, which has a market value of just over $5 billion, said that with the cash raised from the stock and bond sale it would create one of the largest corporate reserves to invest in Bitcoin. The company is taking a page from the investment strategy made famous by Michael Saylor’s company Strategy, formerly known as MicroStrategy, which was one of the first to invest mightily in Bitcoin as a cash-management technique.