Trump Media Raises $2.44 Billion to Establish Bitcoin Treasury
Trump Media and Technology Group, the company behind Truth Social and backed by Donald Trump, has successfully raised $2.44 billion to establish a Bitcoin treasury. The company announced the completion of a private offering with approximately 50 institutional investors.
Key Highlights:
- Funding Secured: Trump Media raised $2.44 billion through a private offering.
- Bitcoin Treasury: The company plans to use $2.3 billion of the proceeds to purchase Bitcoin.
- Institutional Investors: The offering involved approximately 50 institutional investors.
- Crypto Custodians: Crypto.com and Anchorage Digital will serve as the official custodians of the company’s Bitcoin treasury.
The funding was secured through the sale of 55.8 million shares of its common stock at $25.72 per share, resulting in gross proceeds of $1.44 billion. Additionally, the company issued $1 billion in 0.0% secured senior convertible notes due in 2028, with a conversion price of $34.72 per share. This brought the total proceeds to approximately $2.44 billion.
This move comes shortly after Trump Media announced its intention to raise up to $2.5 billion to acquire Bitcoin. The company claims that its Bitcoin purchase would position it among the leading publicly traded companies holding BTC.
Trump Media plans to include Bitcoin on its balance sheet, alongside existing cash, cash equivalents, and short-term investments, which totaled $759 million at the end of Q1 ’25.
“Trump Media is focused on acquiring significant assets, and this deal will give us the financial freedom to implement the rest of our strategies,” said Devin Nunes, President and CEO of TMTG, in the press release.
The selection of Crypto.com and Anchorage Digital as custodians underscores the company’s commitment to securing its Bitcoin holdings with reputable industry players.
In related news, Crypto.com’s native token, CRONOS, has seen a 6% increase in the last 24 hours, extending its weekly gains above 5%. This follows a partnership announced in March between Trump Media and Crypto.com to launch exchange-traded funds (ETFs) through Crypto.com’s broker-dealer, Foris Capital, via its Truth.Fi arm.
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