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Cryptocurrency News Articles
Trump Media and Technology Group (TMTG) Confirms $2.5B Bitcoin (BTC) Purchase After Denying Earlier Reports
May 28, 2025 at 03:03 am
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)
Trump Media and Technology Group (TMTG) (NASDAQ:TMTG) confirmed on Saturday a $2.5 billion capital raise to purchase Bitcoin (BTC), and will sell $1.5 billion in stock and $1 billion in convertible senior secured bonds, with a 0% coupon. The sale is expected to close on Monday, May 29.
TMTG CEO Devin Nunes added that the company plans to use the net proceeds from the offering to fund strategic initiatives, which may include, but are not limited to, capital expenditures, working capital and acquisitions.
Shares of TMTG fell by 11.98% on Friday after the company announced it is raising $1.5 billion in stock and $1 billion in bonds. The company’s shares are now trading at $23.6.
Earlier this week, the Financial Times reported that TMTG is in talks with investors to sell a stake in its technology venture to raise funds. The report also said that TMTG is planning to use the funds to buy Bitcoin.
TMTG spokespeople responded to the initial report with derision, telling the Financial Times that they must “apparently have dumb writers listening to even dumber sources.”
The funding deal comes as a growing number of corporations and countries are adopting Bitcoin treasury strategies as the world’s largest cryptocurrency matures into a financial instrument of geopolitical importance.
Several Bitcoin treasury companies have been increasing their holdings in May. According to SaylorTracker, Michael Saylor’s Strategy (NASDAQ:NET) acquired an additional 4,020 BTC on Friday, May 26.
Technology company Semler Scientific (NASDAQ:SCPL) purchased 455 BTC, valued at over $50 million, for its treasury, according to a recent filing.
In addition, investment firm MetaPlanet (TYO:3683), which is widely regarded by investors as Japan’s MicroStrategy (NASDAQ:MSTR), disclosed the acquisition of an additional 1,004 BTC on Friday, May 19.
Recently, market analyst Jesse Myers predicted that at the current rate of institutional accumulation, large entities will own 50% of the total Bitcoin (BTC) supply by 2045.
According to Myers, this growth in institutional adoption is being driven by a flight to safety from traditional asset classes.
“Over the last two years, an exodus from fiat assets - bonds & money - has already begun. Hard money assets, BTC & gold, is where things are shifting.”
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