Trump media Raises $2.44B to Build Bitcoin Treasury
Trump Media and Technology Group recently concluded a $2.44 billion private placement.This move aims to create one of the biggest Bitcoin treasuries among U.S. public firms.
The company sold around 55.8 million shares at $25.72 each, raising $1.44 billion. Additionally, it secured $1 billion through 0% convertible senior secured notes, maturing in 2028. After expenses, about $2.32 billion will go towards buying Bitcoin and supporting day-to-day operations.
The Bitcoin assets will be managed by Crypto.com and Anchorage Digital. This raises Trump Media’s liquid assets to over $3 billion.
Devin Nunes, CEO of Trump Media, calls this investment a move towards “financial freedom.” The company,which runs platforms like Truth Social,is adopting a crypto-first approach. This aligns with its vision for growth in the “America First economy.”
This news follows recent partnerships with Crypto.com for crypto-focused ETFs. Trump Media joins firms like Strategy and GameStop in using debt and equity to hold crypto.
Yorkville Securities and Clear Street led the offering, with cantor Fitzgerald as financial advisor. DJT stock prices rose on the news, recovering from earlier losses.
