Trump Media reportedly plans $3B raise for crypto buys via equity raise, bond backing

Sources reported that $1.5 billion would be immediately directed to buy Bitcoin, turning TMTG the seventh-largest BTC holder among publicly listed and private companies.

Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.

Trump Media and Technology Group (TMTG) plans to raise $3 billion to purchase Bitcoin (BTC) and other crypto, as the Financial Times reported.

The report cited six people briefed on the transaction, who said the company intends to sell about $2 billion in new equity and another $1 billion of convertible bonds.

Additionally, the sources said the offering size grew in recent weeks as demand strengthened, and TMTG may unveil the plan at a crypto-investor gathering in Las Vegas, where Vice President JD Vance, Donald Trump Jr., Eric Trump, and the “Crypto Czar” David Sacks will speak.

People involved in the discussions said that if TMTG completes the offering at the targeted size, it would immediately deploy roughly half the proceeds to buy Bitcoin and allocate the remainder opportunistically.

According to data from Bitcoin Treasuries, this investment would turn TMTG into the seventh-largest Bitcoin holder among publicly listed and private companies.

Trump Media raising $3B for crypto buys mirrors Strategy playbook

TMTG will structure the equity portion as an at-the-market sale, placing shares near the May 23 close of $25.72, which valued the media group at nearly $6 billion.

The convertible bond tranche gives investors debt that can switch into stock, a mechanism that Strategy popularized during its accumulation of 580,250 BTC.

People familiar with the negotiations told the report that Brokers ClearStreet and BTIG are in talks to underwrite the deal.

In a statement, TMTG rejected the report’s sourcing as “dumb” but offered no additional comment, while representatives for Donald Trump Jr. and the White House declined to respond.

Broader crypto ventures

President Donald Trump and his family have cultivated crypto-related ventures, such as the TRUMP memecoin, a stake in miner American Bitcoin, and the creation of the decentralized application World Liberty Financial.

TMTG also plans to launch a line of crypto exchange-traded funds (ETFs) under the “Truth.fi” brand in partnership with the exchange Crypto.com.

Notably, TMTG revealed the Truth.fi arm on April 29 in a letter to shareholders. The document also considered launching a digital wallet and a token called Truth+.

Furthermore, the President hosted a private dinner for the top holders of his memecoin at his resort outside Washington last week.

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