Trump Media Secures $2.5 Billion for Bitcoin Asset Strategy

Trump Media and Technology Group (DJT), the firm behind the social media platform Truth Social, revealed on Tuesday its intention to raise $2.5 billion to establish a bitcoin treasury.

The organization has engaged approximately 50 institutional investors through a subscription agreement, allocating $1.5 billion in common stock alongside $1 billion in convertible senior secured notes. The deal’s completion is anticipated by May 29. Custody for the company’s bitcoin assets will be managed by Crypto.com and Anchorage Digital.

This development was first reported on Monday by a major financial publication.

DJT shares rose by over 10% during premarket trading, though they experienced a slight decline as regular session trading commenced. Bitcoin’s value showed a modest increase, trading just above $110,000.