Trump Media Raises $2.4 Billion to Launch Bitcoin Treasury

Trump Media & Technology Group Raises $2.4 Billion for Crypto Treasury

In a bold strategic move, Trump Media & Technology Group has secured $2.4 billion to build a major Bitcoin treasury. The company, founded by former President Donald Trump, raised the capital through a combination of common stock offerings and convertible senior secure notes, with backing from around 50 institutional investors.

Devin Nunes, CEO and Chairman of Trump Media, highlighted the significance of this development: "This financing gives Trump Media the flexibility to execute our strategic vision. With over $3 billion in liquid assets, we're positioned to acquire valuable assets while giving our shareholders exposure to Bitcoin's potential."

The company has partnered with leading crypto custodians Anchorage Digital and Crypto.com to safeguard its Bitcoin holdings. Cantor Fitzgerald, the Wall Street firm formerly led by Trump administration Commerce Secretary Howard Lutnick, advised on the fundraising initiative.

This substantial Bitcoin investment makes Trump Media one of the largest corporate holders of cryptocurrency among public companies. The move reflects a broader trend of businesses - particularly those with crypto industry connections or conservative political leanings - incorporating digital assets into their financial strategies.

Trump Media has been actively expanding its crypto footprint in recent months. The company has established a dedicated crypto and fintech division, partnered with Crypto.com to offer cryptocurrency ETFs, and hinted at plans to develop its own digital token and wallet solution.

While the Trump organization's crypto ventures have drawn scrutiny from watchdog groups and Democratic lawmakers regarding potential conflicts of interest, this latest funding round demonstrates the company's continued commitment to its digital asset strategy.