Trump Media & Technology Group (TMTG), the parent company of the social platform Truth Social controlled by the family of US President Donald Trump, plans to raise $3 billion to invest in the cryptocurrency market such as Bitcoin.
According to the Financial Times, the company aims to raise $2 billion through a new equity issue, while another $1 billion will be raised through convertible bonds.
The move is a bold bet on digital assets that the Trump administration championed during the campaign and amid the crypto market becoming the focus of institutional and retail investors.
An official announcement is expected ahead of a major crypto community conference in Las Vegas this week, which will also feature figures such as Vice President JD Vance, Donald Trump Jr, Eric Trump and Trump's crypto advisor, David Sacks.
However, the terms, timing and final amount of the capital raise have not yet been finalized and are subject to change.
The plan reflects the Trump administration's aggressive tone towards the crypto market, including its desire to make the United States the crypto capital of the world.
The surge in interest that sparked the plan came after Bitcoin prices hit a record high above $109,000 last week, seeing a surge in institutional investors seeking long-term profits.
TMTG’s approach is also said to mirror the aggressive strategy of MicroStrategy, a company that has seen its market value soar to more than $100 billion after building a large Bitcoin holding through debt and equity offerings.
However, TMTG’s capital plan is still subject to change. Two sources said the size of the offering was increased due to strong demand from investors.
