Trump Media Plans $3 Billion Crypto Push to Build Bitcoin Treasury: Report
Trump Media & Technology Group—the parent company behind Donald Trump’s Truth Social platform—is reportedly preparing a bold move into the cryptocurrency space. According to the Financial Times, the company plans to raise up to $3 billion through a mix of equity and convertible bonds to invest in Bitcoin and other digital assets.
If confirmed, the strategy would align Trump Media with a growing list of public companies treating Bitcoin as a treasury asset, echoing moves by firms like MicroStrategy, Metaplanet, and Semler Scientific. These companies argue that crypto holdings offer a hedge against inflation and a way to keep their capital productive.
Trump Media reportedly intends to issue $2 billion in equity and $1 billion in convertible bonds—financial instruments that can be turned into stock in the future. The exact size and structure of the raise may still change, according to sources cited by FT.
The company’s shares closed at $25.72 on May 23, up 4.6% for the day, with a market capitalization of $5.7 billion. The equity portion of the raise is expected to be priced based on that closing valuation.
But while the investment strategy signals growing mainstream acceptance of Bitcoin, it also opens the door to political scrutiny. Trump, a former U.S. president and active political figure, has a growing number of crypto-related ventures. These include NFT collections, memecoins bearing the Trump and Melania names, and a DeFi platform called World Liberty Financial. He also recently hosted a "memecoin dinner" that drew criticism from some lawmakers.
Critics argue these crypto ventures could present conflicts of interest, particularly if Trump returns to office with influence over financial policy and regulation. Some Democratic legislators have already raised concerns, citing potential ethics issues.
Adding to the complexity, Trump recently transferred his 53% stake in Trump Media to a revocable trust managed by his son, Donald Trump Jr., a move that may insulate him from direct ownership—but not necessarily from political heat.