Trump Media and Technology Group (DJT), the company that operates the social media site Truth Social, is planning to raise $3 billion to buy crypto assets, the Financial Times reported on Monday.
The capital raise, which is said to combine an equity raise and convertible bond offering, could be announced at this week’s Bitcoin 2025 event held in Las Vegas, according to the report.
The news comes as a growing roster of public firms are adding cryptocurrencies, predominantly bitcoin
, to their balance sheets, taking a page from Michael Saylor-helmed Strategy’s (MSTR) increasingly popular playbook. The software firm has become the world’s largest corporate holder of the leading crypto asset, accumulating over $62 billion in BTC in its treasury by financing the purchases via a combination of equity and debt issuances.
Trump Media shared plans earlier this year to launch a financial services platform focusing on crypto and customized exchange-traded funds. It also said it wants to partner with crypto exchange Crypto.com to launch the ETF products.
Read more: Strategy Buys 4,020 Bitcoin for $427M, Brings Total Stash to Over 580,000 BTC
News source: Trump Media Seeks to Raise $3B for Crypto Purchase: FT
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