Trump Media & Technology Group, U.S. President Donald Trump’s social media firm, is looking to raise $2 billion in fresh equity and $1 billion more through a convertible bond, the Financial Times reported.
The company may announce the capital raise at this week’s Bitcoin 2025 event in Las Vegas, which will see the President’s sons and Vice President JD Vance in attendance. Last year, Donald Trump himself graced the occasion when the event took place in Nashville. Reports suggest that the capital raise by the media company is likely to buy cryptocurrencies like Bitcoin.
The company behind Truth Social, a streaming and social media platform, has been exploring potential mergers and acquisitions as it aims to diversify into financial services. Earlier this year, the group announced that it had officially partnered with crypto.com to start several ETFs through its fintech arm Truth.Fi to provide ‘Made in America” themed ETFs.
Several public companies are looking to join the Bitcoin treasury bandwagon, taking a leaf from Michael Saylor’s Strategy, which has become the largest corporate holder of Bitcoin.
Trump Media Group responded to a Reuters request for comment by calling both Reuters and the Financial Times “fake news” outlets. The White House also did not provide any comment on the matter at the time of reporting.