Trump Media & Technology Group is raising $2.5 billion to purchase Bitcoin for a company treasury, the publicly traded firm announced Tuesday.
According to a release, Trump Media has entered subscription agreements with about 50 institutional investors, and will sell $1.5 billion worth of common stock and $1 billion worth of convertible senior secured notes. The funds will fuel Trump Media's Bitcoin play.
"We view Bitcoin as an apex instrument of financial freedom, and now Trump Media will hold cryptocurrency as a crucial part of our assets," said Trump Media CEO and Chairman Devin Nunes, in a statement. "Our first acquisition of a crown jewel asset, this investment will help defend our company against harassment and discrimination by financial institutions, which plague many Americans and U.S. firms, and will create synergies for subscription payments, a utility token, and other planned transactions across Truth Social and Truth+."
Crypto.com and Anchorage Digital will custody the firm's future Bitcoin holdings. The offering is set to close on or around Thursday, May 29.
The announcement comes once day after the Financial Times first reported the plans, citing six people familiar with the matter. The FT report had pegged the fundraising target at $3 billion, however, and said that the firm intended to invest in multiple cryptocurrencies—not just Bitcoin.
TMTG did not respond to Decrypt’s request for comment on Monday. In a statement to the Financial Times following publication of its story, the company seemingly denied the report: "Apparently the Financial Times has dumb writers listening to even dumber sources," the company said, without elaborating.
Trump Media stock plunged Tuesday following the announcement, now down over 11% on the day to $22.82.
The announcement comes as TMTG deepens its foray into the digital assets market, and as U.S. President Donald Trump and his family strengthen their ties with crypto investors and companies in the U.S. and abroad.
In January, the media company announced it would launch a fintech business called Truth.fi, which would facilitate investors’ access to Bitcoin and energy-based investments, as well as other financial products. Two months later, TMTG struck a deal with trading platform Crypto.com to offer several digital asset-based exchange-traded funds through Truth.fi.
The president’s family has also become increasingly and more directly involved in the crypto world, launching a series of NFT trading cards and a pair of meme coins, which trade under the TRUMP and MELANIA tickers, in addition to backing a decentralized finance projected called World Liberty Financial—all in just the past few months.
President Trump also held a dinner reception with more than 200 top investors in his Official Trump meme coin last week—a glitzy gala that attracted overwhelming criticism from the American public, politicians and press.
Editor's note: This story was originally published on May 26, 2025. It was last updated on May 27 to include the official announcement details.
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