Trump Media & Technology Group, the parent company of President Trump’s Truth Social platform, is aiming to raise $3 billion to invest in cryptocurrencies like bitcoin, according to a report from the Financial Times on Monday.
The report comes as bitcoin has gone on a furious run since early April, jumping 45% to a new all-time high of $112,000 on May 22; bitcoin is going for about $109,400 on Monday.
Trump Media’s $3 billion raise would include $2 billion in equity and $1 billion via convertible bonds. But the timing of the raise is not solidified yet and the size could also be changed, according to people familiar with the plan who spoke with FT.
The company — led by CEO Devin Nunes, the former Republican representative from California — did not immediately respond to TheWrap’s request for comment.
President Trump has shown a keen interest in cryptocurrency since returning to office, establishing a “strategic bitcoin reserve” via executive order in March. And last week, the president hosted a dinner party for those who purchased his $TRUMP meme coin — a party that included former Lakers star Lamar Odom among several notable guests.
As for Trump Media, the company’s share price surged leading up to the 2024 election, helping make it more valuable than The New York Times at one point. This year has not been as strong, with the Nasdaq-traded company down 24% since the start of 2025; in April, Trump Media urged the SEC to investigate a British hedge fund for “potential manipulation” of its stock after taking a $105 million short position against it.
Heading into Tuesday trading, Trump Media is worth $5.7 billion.
