Trump Media (Nasdaq, NYSE, Texas: DJT) is planning to purchase Bitcoin and is raising $2.5 billion to execute the mission.
In a public statement issued earlier today, Trump Media said has entered into subscription agreements with around 50 institutional investors, to issue and sell approximately $1.5 billion in the firm’s common stock and $1.0 billion in principal amount of 0.00% convertible senior secured notes, for gross proceeds of an aggregate approximately $2.5 billion, in a private placement. The offering is expected to close this week on May 29th.
All proceeds will be used to create a Bitcoin treasury. Crypto.com and Anchorage Digital will provide custody for Trump Media’s Bitcoin treasury.
Devin Nunes, CEO and Chairman Trump Media explained that they view Bitcoin as an apex instrument of financial freedom.
“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+. It’s a big step forward in the Company’s plans to evolve into a holding company by acquiring additional profit-generating, crown jewel assets consistent with America First principles.”
President Donald Trump has already announced that the Federal government would hold Bitcoin as part of a strategic policy.
Bitcoin is expected to be held on the firm’s balance sheet alongside existing cash, cash equivalents, and short-term investments totaling $759.0 million as of the end of the first quarter of 2025.
Shares of DJT traded lower on the news.
Recently, Trump has received some criticism for his meme coin from opposition leaders as well as some members of his own party. Last week, large holders of the meme coin participated in a dinner where Trump spoke.
