Trump Media Raises $2.4 Billion to Launch Bitcoin Treasury
Trump Media & Technology Group raised $2.4 billion for a Bitcoin treasury through an offering of common stock and convertible senior secure notes, with participation from approximately 50 institutional investors. The net proceeds amount to $2.32 billion, which will be allocated for creating a Bitcoin treasury and other corporate purposes. The company aims to acquire significant assets, enhancing its financial capabilities. Anchorage Digital and Crypto.com will manage the Bitcoin custody, while Cantor Fitzgerald served as the financial advisor. Trump Media, known for Truth Social, is positioned to become one of the largest Bitcoin holders among publicly traded companies. The firm has recently intensified its focus on digital assets, launching a crypto arm and collaborating on crypto ETFs. The Trump family has also expanded their crypto ventures, facing criticism over potential conflicts of interest.
