Trump Media and Technology Group (TMTG) is preparing to raise a staggering $3 billion to invest in cryptocurrencies such as Bitcoin

TMTG plans to secure $2 billion in fresh equity and another $1 billion through a convertible bond offering, those familiar with the matter told the Financial Times.

Trump Media and Technology Group (TMTG) is planning to raise $3 billion to invest in cryptocurrencies such as Bitcoin, reports the Financial Times.

The company, which is best known for the Trump family’s social media venture Truth Social, plans to secure $2 billion in fresh equity and another $1 billion through a convertible bond offering, people familiar with the matter told the Financial Times.

The media venture could announce the capital raise as early as this week at The Bitcoin 2025 Conference in Las Vegas, where Vice President JD Vance, Donald Trump Jr., Eric Trump, and Trump’s crypto advisor David Sachs are expected to speak.

The secondary equity offering will be carried out on an at-the-market basis, meaning shares are expected to be priced near the most recent closing price of $25.72, giving TMTG a current valuation of nearly $6 billion.

TMTG’s move comes amid a wider cryptocurrency resurgence. Bitcoin hit a new record of $111,999 last week and investor interest in crypto-related plays has surged. The strategy also echoes that of asset management firm .

Despite the report by the Financial Times, TMTG had a less-than-flattering comment on the story.

“Apparently the Financial Times has dumb writers listening to even dumber sources,” said TMTG. A White House spokesperson also declined to comment. Representatives for Donald Trump Jr. did not respond to requests for comment and Reuters did not immediately receive a request for comment.

TMTG’s deepening crypto pivot has included a slew of ventures: an NFT trading card series, two memecoins, investments in crypto miner American Bitcoin and stablecoin platform World Liberty Financial, and an upcoming crypto ETF.

After returning to the White House last year, Trump transferred his 53% stake in TMTG—worth roughly $3 billion—to a revocable trust controlled by Donald Trump Jr., who now holds full investment and voting authority.