Trump Media and Technology Group (TMTG), the company that owns US President Donald Trump’s Truth Social platform and is partially owned by the president, confirmed a $2.5 billion capital raise to purchase Bitcoin (BTC) after denying earlier reports of the deal.
According to a May 27 announcement from the company, the capital raise comprises a $1.5 billion stock sale and $1 billion in convertible senior secured bonds, with a 0% coupon. The sale is expected to close on May 29. TMTG CEO Devin Nunes said:
“We view Bitcoin as an apex instrument of financial freedom, and now Trump Media will hold cryptocurrency as a crucial part of our assets. This investment will help defend our Company against harassment and discrimination by financial institutions.”
TMTG spokespeople responded to the initial report from the Financial Times, published a day before the announcement, with derision.
“Apparently, the