Trump Media & Technology Group (TMTG) said on Tuesday that institutional investors will purchase $2.5 billion in the company’s stock, with the proceeds going toward a bitcoin reserve.
The deal comprises $1.5 billion in common stock and another $1 billion in convertible notes priced at a 35 percent premium, according to a statement from the media group, which is owned by President Donald Trump.
Bitcoin will be held on TMTG’s balance sheet alongside existing cash, cash equivalents, and short-term investments totaling $759 million as of the end of the first quarter of 2025, according to the statement.
TMTG said it has subscription agreements with approximately 50 institutional investors and that the proceeds have been earmarked for the creation of a “Bitcoin treasury.”…