Trump Media Raises $2.5 Billion From Institutional Investors to Buy Bitcoin

Shares of the company fell about 10% following the news.

Trump Media announced Tuesday a $2.5 billion raise from institutional investors to bankroll what could be one of the largest bitcoin treasury allocations by a public company.

Shares of the company fell about 10% following the news. It's the latest and most ambitious move in its evolution from a free-speech social platform to a financial services player.

The deal includes $1.5 billion in common stock and $ billion in convertible notes, with proceeds earmarked for the purchase of bitcoin, which the company will now hold as a core treasury asset, it said in a statement. Trump Media said it has subscription agreements with about 50 institutional investors.

The company also confirmed that the bitcoin will be held with Anchorage Digital and Crypto.com — the same platform that recently inked a deal to help Trump Media launch its first exchange-traded funds.

The announcement comes as bitcoin nears record highs and the year's biggest gathering of digital asset enthusiasts gets underway on the Las Vegas Strip: Bitcoin 2025. The conference helped solidify President Donald Trump's image as the country's first "crypto president." This year, it's a full-court press from the Trump White House at the conference, with Vice President JD Vance, Don and Eric Trump, crypto czar David Sacks, and other top officials all attending.

Trump Media's stock remains volatile, with shares down nearly 30% this year so far. The company has a market cap of about $5.3 billion, despite reporting just $3.6 million in revenue and a $400 million loss in 2024.

Trump himself indirectly owns more than 114 million shares of Trump Media through a revocable trust, according to a recent SEC filing.