Key Takeaways
- Trump Media raised $2.5 billion to create a Bitcoin treasury.
- The deal includes $1.5B in stock and $1B in convertible notes.
- Custody will be handled by Crypto.com and Anchorage Digital.
Trump Media and Technology Group Corp. (DJT) announced it has secured approximately $2.5 billion through a private placement to fund a Bitcoin treasury, marking one of the largest such investments by a public company.
Details of the capital raise
The capital raise consists of $1.5 billion in common stock and $1 billion in 0.00% convertible senior secured notes.
The transaction is expected to close by May 29, 2025.
DJT stock, trading at $14,535.60, has an average daily volume of 165.6 million shares and is down 8.56% year-to-date.
Strategic vision
CEO Devin Nunes said the decision reflects a broader strategy:
We view Bitcoin as an apex instrument of financial freedom, and now Trump Media will hold cryptocurrency as a crucial part of our assets.
He added that the move would protect the company from financial discrimination and enable operational synergies across its digital platforms, including Truth Social and the Truth+ streaming service.
Financial impact
With $759 million already held in cash, cash equivalents, and short-term investments at the end of Q1 2025, this new funding will significantly reshape the company’s balance sheet.
Placement agents and advisors
Placement agents include Yorkville Securities, Clear Street, BTIG, and Cohen & Company Capital Markets.
Cantor Fitzgerald & Co. acted as financial advisor.
Crypto.com and Anchorage Digital will provide Bitcoin custody services.
Clarification on SEC filing
TMTG also recently clarified that a prior SEC filing was a routine re-registration, not a stake sale. The company remains listed on NASDAQ and recently became the first company listed on NYSE Texas.
