Trump Media Plans to Issue Its Common Stock Worth $1.5 Billion and $1 Billion in Convertible Senior Secured Notes

The move reiterates Donald Trump’s bid to support the Bitcoin network in the United States.

The former president's company, Trump Media & Technology Group, is planning to issue common stock worth $1.5 billion and $1 billion in 0 percent convertible senior secured notes, according to a press release on Thursday. The company aims to close the offering by May 29.

“We view Bitcoin as an apex instrument of financial freedom, and now Trump Media will hold cryptocurrency as a crucial part of our assets. Our first acquisition of a crown jewel asset, this investment will help defend our Company against harassment and discrimination by financial institutions, which plague many Americans and U.S. firms and will create synergies for subscription payments, a utility token, and other planned transactions across Truth Social and Truth+,” Trump Media’s CEO and Chairman Devin Nunes, said in a statement.

The company is also planning to launch a utility token on the Trump Media platform later this year, which will be used to provide users with access to exclusive content and services.

The move comes as Trump has increasingly spoken out in support of Bitcoin. Earlier this year, Trump said that he is a "big fan" of the cryptocurrency and that he thinks it has "potential."

Trump's company is planning to use the funds to launch its own social media platform, called Truth Social. The platform will be a direct competitor to Facebook, Twitter and Instagram.

Trump was banned from major social media platforms following the January 6 Capitol riot. The former president's company is planning to use the funds to launch its own social media platform, called Truth Social. The platform will be a direct competitor to Facebook, Twitter and Instagram.

Trump Media is expected to apply for an initial public offering after completing the private placement offering. The company's shares are currently traded over-the-counter.