$3 Billion Fundraising Plan: Equity and Convertible Bonds
Trump Media and Technology Group (TMTG), the parent company of Truth Social controlled by the Trump family, is preparing a massive $3 billion fundraising campaign to invest in Bitcoin and other crypto assets, according to the Financial Times citing sources familiar with the matter. The plan comprises $2 billion in secondary equity offerings and $1 billion through convertible bond issuance. The equity offering will be conducted on an at-the-market basis, meaning shares will be priced near the latest closing price of $25.72, implying a current valuation of approximately $6 billion for TMTG.
The capital raise could be formally announced ahead of The Bitcoin 2025 Conference in Las Vegas this week, where Vice President JD Vance, Donald Trump Jr., Eric Trump, and Trump's crypto advisor David Sachs are scheduled to speak. This timing suggests a strategic alignment with the crypto community's major gathering.
Market Context: Bitcoin at Record Highs, Strategy Model Gains Traction
TMTG's push occurs amid a broader crypto resurgence. Bitcoin hit an all-time high of $111,999 last week, fueling renewed investor interest in crypto-exposed assets. The strategy mirrors that of Strategy (formerly MicroStrategy), which used a similar blend of debt and equity financing to accumulate tens of billions of dollars worth of Bitcoin, catapulting its market cap to over $100 billion. If TMTG proceeds, it would become the second major publicly traded company to adopt an aggressive Bitcoin treasury strategy, potentially influencing more corporate treasuries to allocate to crypto.
The current Bitcoin price remains above $100,000, and institutional demand continues to provide strong support. TMTG's entry could further legitimize Bitcoin as a corporate reserve asset.
TMTG Denies Report; Authenticity Questioned
Despite the Financial Times' exclusive report, TMTG has strongly denied the story. In a statement to the FT, the company said: 'Apparently the Financial Times has dumb writers listening to even dumber sources.' A White House spokesperson declined to comment, and representatives for Donald Trump Jr. did not respond to requests for comment. Reuters also did not receive an immediate comment. As of now, TMTG has not filed any relevant fundraising documents with the SEC, leaving the authenticity of the report in doubt. The market is watching for any official confirmation or denial from the Trump organization.
TMTG's Expanding Crypto Footprint: From NFTs to ETF
TMTG has already ventured deep into the crypto space. Its portfolio includes an NFT trading card series, two memecoins (including the official Trump-themed tokens), investments in crypto miner American Bitcoin and stablecoin platform World Liberty Financial, and a planned crypto exchange-traded fund (ETF). These moves signal a comprehensive strategy to capture multiple segments of the digital asset ecosystem.
Additionally, after returning to the White House last year, President Trump transferred his 53% stake in TMTG—worth roughly $3 billion—to a revocable trust controlled by Donald Trump Jr., who holds full investment and voting authority. This structural change means that any major crypto investment decisions by TMTG are effectively under the control of the Trump family's core members.
This is a developing story and will be updated as needed.