Trump Media Secures $2.5 Billion for Bitcoin Treasury Initiative

Trump Media and Technology Group (DJT) announced a $2.5 billion capital raise to establish a bitcoin treasury.

  • The company signed a subscription agreement with around 50 institutional investors.
  • It plans to issue $1.5 billion in common stock and $1 billion in convertible senior secured notes.
  • The offering is set to close on May 29.
  • Crypto.com and Anchorage Digital will manage the custody of its bitcoin holdings.
  • DJT shares rose over 10% in premarket trading but have since declined slightly.
  • Bitcoin is trading above $110,000.