It's official: Trump Media raises $2.44B to build Bitcoin treasury

It’s official: Trump Media raises $2.44b to build Bitcoin treasury

Trump Media and Technology Group has closed a $2.44 billion private placement, aiming to establish one of the largest Bitcoin treasuries in the world

crypto.news

TL;DR: Trump Media & Technology Group just pulled in a whopping $2.44 billion from about 50 institutional investors—selling 55.8 million shares at $25.72 each (raising $1.44 billion) plus $1 billion in 0% convertible notes due 2028. After fees, roughly $2.32 billion will go straight into Bitcoin (with Crypto.com and Anchorage Digital handling custody) and to keep the lights on.

CEO Devin Nunes calls it a big step toward “financial freedom” for the “America First economy,” and the deal lifts the company’s liquid assets above $3 billion. Trump Media is also eyeing crypto ETFs and other services with Crypto.com, joining a club of firms—think GameStop—using fresh capital to load up on Bitcoin. DJT shares popped on the news, though they’re still down about 36% for the year.