Trump Media & Technology Group (TMTG), a company backed by US President Donald Trump, has announced plans to raise $2.5 billion through a mix of stock and convertible note offerings to purchase Bitcoin, according to a May 27 statement.
This planned purchase would help the firm reach the top 10 corporate Bitcoin holders globally. Strategy (formerly MicroStrategy) currently owns the largest amount of the top crypto, with over 580,000 BTC in its reserves.
Following news of Trump Media’s planned BTC purchase, the bellwether crypto price spiked above $110,000 after trading sideways for most of the day, according to CryptoSlate’s data.
However, TMTG’s own stock dropped 8%, falling to $23.57 as of press time, according to data from Google Finance.
Trump Media Bitcoin reserve
Under the terms, TMTG will issue roughly $1.5 billion in common stock and $1 billion in zero-coupon convertible notes.
The fundraising round involves commitments from nearly 50 institutional investors and is expected to close by May 29, pending standard conditions.
The company said it has appointed Crypto.com and Anchorage Digital to custody the digital assets.
Trump Media CEO Devin Nunes described the move as a foundational step toward positioning Bitcoin as a core holding aligned with the company’s broader mission.
He said:
“This investment will help defend our Company against harassment and discrimination by financial institutions, which plague many Americans and US firms.”
The company’s balance sheet already has approximately $759 million in various assets, including cash, cash equivalents, and short-term investments.
Trump Media’s deepening crypto moves
Nunes explained that the Bitcoin reserve move aligns with the firm’s broader crypto plans, saying:
“[This] will create synergies for subscription payments, a utility token, and other planned transactions across Truth Social and Truth+. It’s a big step forward in the Company’s plans to evolve into a holding company by acquiring additional profit-generating, crown jewel assets consistent with America First principles.”
Notably, the firm had previously revealed plans to develop a utility token and digital wallet to support its Truth+ streaming platform.
TMTG is also working with Crypto.com to launch a new series of exchange-traded products bundling digital assets like Bitcoin and Cronos with traditional financial instruments.