Trump Media & Technology Group is plotting a $3 billion raise to purchase Bitcoin (BTC) and several altcoins. The move will see President Trump’s backed entities make deeper inroads into the crypto asset markets. Institutional investors increase their appetite for crypto products, leading to a new cycle as prices flash new highs.
Trump Media Readies Huge Purchase
According to sources familiar with the matter, Trump Media Group, the firm behind Truth Social, plans a $3 billion raise to buy multiple crypto assets. The Financial Times reported that the company seeks to raise $2 billion in equity and $1 billion in a convertible bond sale.
If the deal goes through, Trump-related companies will extend their foray into digital assets to the delight of most crypto users. President Trump’s backing has fueled institutional and retail sentiments since the start of his second term in the White House.
In January, Trump Media announced plans to roll out a fintech arm as part of a crypto-linked diversification process. At the time, the firm sought to purchase $250 million of digital assets and subsequently struck a deal with Crypto.com. Since his inauguration, the President has spurred innovation with crypto-friendly policies like forming a Strategic Bitcoin Reserve and a crypto task force.
World Liberty Financial (WLF), another Trump family entity, has recently struck global partnerships. The company partnered with the Pakistan Crypto Council to boost digital asset adoption and accelerate Bitcoin innovation.
“The WLF … has signed a landmark Letter of Intent with the PCC to accelerate blockchain innovation, stablecoin adoption and decentralised finance integration across Pakistan,” the statement read.
This month, USD1, WLF stablecoin facilitated MGX, Abu Dhabi’s investment firm $2 billion venture into Binance. The move sparked diverse reactions with industry experts projecting more institutional backing for the stablecoin while Democratic lawmakers called for investigations into Trump’s crypto dealings. Recall that Trump launched a meme coin before his inauguration and promised to make the United States the world’s Bitcoin capital.
Institutional Investors Are Not Slowing Down
Large-scale holders pushed Bitcoin price to an all-time high above $111k and are not showing fear signals. Michael Saylor’s Strategy bagged an additional 4,020 BTC, taking total holdings to 580,250 bought at an average price of $69,979.
Chinese textile firm Addentax also earmarked $800 million to scoop crypto assets. Semler Scientific and H1 Group increased their digital asset holdings last week.