Trump Media Raises $2.44 Billion for Bitcoin Treasury
Trump Media and Technology Group has secured a $2.44 billion private placement. The funding comes from about 50 institutional investors. The goal is to create one of the largest Bitcoin treasuries among U.S. public companies.
The deal involved selling 55.8 million common shares at $25.72 each, raising $1.44 billion. Additionally, $1 billion came from 0% convertible senior secured notes due in 2028. These notes can convert at $34.72 per share. The company plans to use the net proceeds, around $2.32 billion, to buy Bitcoin and support general operations.
Crypto.com and Anchorage Digital will manage the Bitcoin treasury. This move boosts Trump Media’s liquid assets to over $3 billion. The company runs platforms like Truth Social, Truth+, and Truth.Fi.
CEO Devin Nunes sees this as a step toward “financial freedom.” It aligns wiht their crypto-first strategy and vision for the “America First economy.” The company will partner with Crypto.com for Bitcoin custody.
This follows plans to partner with Crypto.com on crypto-focused ETFs and financial services. Trump Media joins firms like Strategy and GameStop, using debt and equity to buy crypto.
Yorkville Securities and Clear Street led the offering. DJT shares rose on the news, recovering from a 10% dip earlier in the week. However, the stock is still down 36% year-to-date.
