Trump Media To Raise £2.5bn To Invest In Bitcoin
Trump Media & Technology Group, the company behind Truth Social, is raising $2.5 billion to buy bitcoin and expand into financial services. The move includes selling $1.5 billion in stock and $1 billion in convertible notes. CEO Devin Nunes said the investment is part of the company's mission to back “crown jewel assets consistent with America First principles” and to defend against what he described as financial discrimination.
The firm will store its bitcoin with Anchorage Digital and Crypto.com, joining other Trump-linked crypto ventures like NFTs, meme coins, and a bitcoin mining company. Trump Media says the funds will also support crypto-integrated offerings like subscription payments, utility tokens, and exchange-traded funds tied to the Truth Social platform.
The plan mirrors Michael Saylor’s strategy at MicroStrategy, using equity and debt to buy large amounts of bitcoin. While shares dropped over 9% following the announcement, insiders claim demand for the offering has grown. The Trump family continues to deepen its ties to crypto, as Donald Jr. now controls the media company through a trust and Trump has promised to make the U.S. “the crypto capital of the world.”
