Trump Media and Technology Group (TMTG), the family-owned company responsible for Truth Social is preparing to raise a massive $3 billion dollars to invest in cryptocurrencies. Bitcoin, according Financial Times
Media venture plans to secure Financial Times reported that there would be $2 billion raised in new equity and an additional $1 billion via a convertible bond. The capital raising could be announced in advance of The Bitcoin 2025 Conference This week in Las Vegas Vice President JDVance, Donald Trump Jr. Eric Trump and Trump’s cryptocurrency advisor David Sachs will be speaking.
The equity secondary offering will take place at the market price, which means shares should be priced around $25.72. This gives TMTG a value of $6 billion.
TMTG’s efforts come amid a wider resurgence of cryptocurrency. Bitcoin hit a new record Investor interest has soared in cryptocurrency-related investments. The strategy echoes that of Strategy, which used a similar blend of debt and equity financing to buy tens of billions of dollars in Bitcoin—catapulting its market cap to over $100 billion.
TMTG is yet to confirm the news, however a comment made by them to Financial Times might cast doubts on the truth of the story.
“Apparently the Financial Times has dumb writers listening to even dumber sources”According to reports, TMTG. White House spokesperson declined to add their opinion. Donald Trump Jr.’s representatives have not responded to requests for comment. Reuters has also not received a response.
TMTG has been investing in a variety of crypto ventures. These include an NFT Trading Card Series, two Memecoins and investments into crypto miners American Bitcoin, stablecoin platforms World Liberty Financial and an upcoming cryptocurrency. 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 holds full investment and voting authority.
The story is in progress and we will update it as necessary.
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Source: bitcoinmagazine.com
