Trump Media & Technology Group (TMTG) the parent company of Truth Social is preparing for a large play into crypto. The company, which is backed by the Trump family, plans to raise $3 billion to invest in digital assets like Bitcoin, with $2 billion coming from stock sales and another $1 billion from a convertible bond.
Similar to the approach of companies like MicroStrategy, which raised stock and debt issues in order to buy into Bitcoin. The final amount could still change, but insiders say demand for the offering is growing.
The upcoming crypto event in Las Vegas is set to feature some major figures, including U.S. Vice President JD Vance, Donald Trump Jr., and Eric Trump. Also attending is David Sacks, a well-known tech investor and crypto advocate who advises Trump on digital assets, according to FT.
The timing of the announcement suggests that TMTG wants to highlight its deeper interest in digital currencies during this high-profile gathering.
Moreover, This move fits with the Trump family’s growing crypto interests, including NFTs, meme coins, and blockchain projects.
TMTG, which currently trades on the Nasdaq under the symbol DJT, closed last week with a market value of nearly $5.7 billion while trading at 25.72 per share.
Reports also suggest the company is planning a crypto-focused exchange-traded fund (ETF) in the near future. As President Trump continues to promote the idea of making the U.S. the “crypto capital of the world,” this bold step by his media company could be a key part of that vision.
