Trump Media and Technology Group (TMTG), the company that owns US President Donald Trump’s Truth Social platform and is partially owned by the president, confirmed a $2.5 billion capital raise to purchase Bitcoin (BTC) after denying earlier reports of the deal.

According to a May 27 announcement from the company, the capital raise comprises a $1.5 billion stock sale and $1 billion in convertible senior secured bonds, with a 0% coupon. The sale is expected to close on May 29. TMTG CEO Devin Nunes said:

“We view Bitcoin as an apex instrument of financial freedom, and now Trump Media will hold cryptocurrency as a crucial part of our assets. This investment will help defend our Company against harassment and discrimination by financial institutions.”

TMTG spokespeople responded to the initial report from the Financial Times, published a day before the announcement, with derision.

“Apparently, the Financial Times has dumb writers listening to even dumber sources,” TMTG representatives told the FT.

Shares of TMTG sank following the $2.5 billion capital raise announcement. Source: TradingView

Shares of TMTG fell by over 12% following the announcement and were trading around $23.60 at the time of publication.

The funding deal comes as a growing number of corporations and countries adopt Bitcoin treasury strategies as the digital asset matures into a financial instrument of geopolitical importance.

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Bitcoin treasury companies keep stacking

Several Bitcoin treasury companies increased their holdings in May this year, including Michael Saylor’s Strategy. According to SaylorTracker, the company acquired an additional 4,020 BTC on May 26.

Technology company Semler Scientific purchased 455 BTC, valued at over $50 million, for its treasury, an acquisition the company disclosed in a May 23 filing.

Investment firm MetaPlanet, widely regarded by investors as Japan’s MicroStrategy, acquired an additional 1,004 BTC on May 19.

Market analyst Jesse Myers recently predicted that at the current rate of institutional accumulation, large entities will own 50% of the total Bitcoin supply by 2045.

Myers added that this growth in institutional adoption is driven by a flight to safety from traditional asset classes.

“Over the last two years, an exodus from fiat assets — bonds and money — has already begun. Hard money assets, BTC and gold, are where things are shifting,” the analyst wrote in a May 22 X post.

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