Trump Media Raises Billions for Bitcoin, Shares Tumble
May 28 - Trump Media (NASDAQ:DJT) said it has secured $2.5 billion from institutional investors to build one of the largest bitcoin treasuries by a public company.
The financing comprises $1.5 billion in common stock and $1 billion in convertible notes, with proceeds earmarked for bitcoin purchases. Anchorage Digital and Crypto.com will custody the digital assets.
Warning! GuruFocus has detected 4 Warning Signs with DJT.
Shares of Trump Media slid about 10% on Tuesday, trimming the stock's year-to-date gains as investors weighed the pivot from social media to financial services. The company's market value stands near $5.3 billion despite reporting just $3.6 million in revenue and a $400 million loss in 2024.
The announcement comes as Bitcoin 2025, the year's premier crypto conference, unfolds in Las Vegas, where Trump's team has touted his role as the country's first crypto president. About 50 institutional subscribers have signed agreements to back the deal.
Donald Trump indirectly controls over 114 million shares through a revocable trust. Chief Executive Devin Nunes described bitcoin as a crown jewel asset and signaled further strategic acquisitions to bolster the treasury.
This move mirrors trends set by MicroStrategy (NASDAQ:MSTR) and other politically aligned firms converting corporate cash into bitcoin, underscoring the growing appeal of digital assets as a hedge against traditional banking constraints.
This article first appeared on GuruFocus.
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