Trump Media & Technology Group (NASDAQ: DJT), the company behind Truth Social, has unveiled plans to raise $2.5 billion to establish a Bitcoin treasury, joining a wave of public firms adding crypto to their balance sheets.
The capital raise includes $1.5 billion in newly issued common equity and $1 billion in convertible senior secured notes, backed by agreements with approximately 50 institutional investors. The deal is expected to close on May 29, the company said in a press release.
Crypto custody for the Bitcoin holdings will be handled by Crypto.com and Anchorage Digital.
The move, first reported by the Financial Times, triggered a spike in DJT shares—rising over 10% in premarket trading—before pulling back slightly in early session activity. Bitcoin also gained, trading just above $110,000.
About The Author
More Stories
XRP Surges 15% as Onchain Data Reveals ‘Banker Hours’ Trading Pattern
Bitcoin Rally Fuels Debate Over Whether Clarity Act Hopes Are Already Priced In
Bitcoin Breaks Six-Week Range Above $71K as $3B in Shorts Liquidated