Trump Media and Technology Group (TMTG), which operates the social media platform Truth Social, is reportedly looking to raise $3 billion for the acquisition of cryptocurrency assets, according to a report by the Financial Times.
This fundraising effort aims to secure $2 billion in new equity and an additional $1 billion through convertible bonds, as shared by sources familiar with the initiative.
This strategy resembles that of another firm, Strategy, which has been actively purchasing Bitcoin for seven consecutive weeks, recently adding 4,020 BTC to its portfolio. Strategy often finances its Bitcoin acquisitions through a combination of debt and equity offerings.
An announcement regarding TMTG’s capital raise is anticipated before the upcoming Bitcoin Conference, which is set to take place in Las Vegas from May 27 to 29, 2025. This conference is one of the largest gatherings in the cryptocurrency space and will feature notable attendees, including Vice President JD Vance, Donald Trump Jr., Eric Trump, and David Sachs, who is a key advisor on cryptocurrency for Trump.
The size of TMTG’s offering has reportedly increased in recent weeks due to strong interest from investors. However, TMTG has neither confirmed nor denied the fundraising plans. In a statement to the Financial Times, the company criticized the reporting and the sources but did not provide additional details.
This initiative marks the Trump family’s latest foray into the world of cryptocurrency, aligning with former President Trump’s ambition to position the United States as the “crypto capital of the world.” This move comes at a time when Bitcoin recently hit a record high of $109,000.
