What to know:
- In a move that could make even the most seasoned Wall Street sharks raise an eyebrow, Trump Media has just wrapped up a $2.44 billion capital raise. Yes, you heard that right—billion with a “B”! And what are they planning to do with this windfall? Create a bitcoin (BTC) treasury, of course! Because why not throw some digital coins into the mix?
- The company managed to sell $1.44 billion in common stock and an additional $1 billion in convertible notes to a gaggle of about 50 institutional investors. I can only imagine the bidding war that ensued—”I’ll take two billion dollars in Bitcoin, please!”
- This audacious move aims to catapult the company into the ranks of the largest publicly-traded U.S. holders of bitcoin. Move over, Michael Saylor; there’s a new player in town!
So, on this fine Friday, the Trump Media and Technology Group (DJT)—the proud operator of Truth Social—has announced that it has successfully closed a $2.44 billion fundraising deal to establish a bitcoin treasury. I mean, who needs a traditional bank when you can just hoard digital currency like a dragon with its gold?
In a delightful twist, DJT shares decided to shake off their early morning blues and jumped up by 5.6% after the news broke. Talk about a rollercoaster ride!
The company sold nearly 56 million shares at a price of $25.72 each, which sounds like a bargain if you’re into buying shares in a company that’s all about Bitcoin. They also issued $1 billion in 0% convertible notes maturing in 2028. Because who doesn’t love a good financial puzzle?
According to a press release (which I’m sure was filled with all the excitement of a tax form), the firm plans to direct the net proceeds of $2.32 billion to purchase BTC for its treasury. And for those wondering about security, Crypto.com and Anchorage Digital will be providing custody services. Because nothing says “trustworthy” like a digital vault!
This bold move adds Trump Media to a growing list of publicly-traded firms that have decided to dip their toes into the crypto waters. It’s a strategy that was first pioneered by Michael Saylor’s MSTR, who has become the world’s largest corporate holder of Bitcoin, amassing over $60 billion in BTC. I guess when it comes to Bitcoin, the more, the merrier!
Earlier this year, Trump Media also shared plans to launch a financial services platform focusing on crypto and customized exchange-traded funds. They even want to partner with Crypto.com to launch these ETF products. Because if you’re going to dive into the crypto pool, you might as well do it with style!
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2025-05-30 20:11