Trump Media Group reverses course, confirms $2.5B Bitcoin treasury capital raise
Trump Media and Technology Group (TMTG) confirmed a $2.5 billion capital raise to purchase Bitcoin (BTC), consisting of a $1.5 billion stock sale and $1 billion in convertible senior secured bonds with a 0% coupon. The deal is expected to close on May 29. TMTG CEO Devin Nunes stated that Bitcoin is viewed as a key instrument of financial freedom, and the investment aims to protect the company from discrimination by financial institutions. Following the announcement, TMTG shares fell over 12%, trading around $23.60. The funding aligns with a trend of increasing corporate and national adoption of Bitcoin as a significant financial asset. Notable Bitcoin treasury companies, including Michael Saylor’s Strategy and Semler Scientific, have also increased their holdings recently. Market analyst Jesse Myers predicted that institutional entities could own 50% of the total Bitcoin supply by 2045, driven by a shift from traditional assets to hard money assets like BTC and gold.
