Trump Media completes fundraising of $2.44 billion
Became the fourth largest Bitcoin whale in U.S. stocks
President: Buying Bitcoin will give the company 'financial freedom'
The stock price of Trump Media rises by more than 10%
Under Trump's active embrace of cryptocurrency, his company also entered the cryptocurrency market strongly. On the 27th of this week, the Trump Media & Technology Group (hereinafter referred to as Trump Media) announced raising billions of dollars to purchase Bitcoin, and yesterday (30), the company announced the completion of a total private financing of $2.44 billion, of which $2.32 billion will be used to create a Bitcoin reserve, making Trump Media one of the listed companies with the largest Bitcoin assets.
Trump Media completes fundraising of $2.44 billion
According to the company's announcement, this private offering covers approximately 50 institutional investors, including:
55,857,181 ordinary shares at a price of $25.72 per share, raising approximately $1.44 billion;
A total of $1 billion in 0% convertible institutional bonds, with a conversion price of $34.72 per share
The total amount raised is approximately $2.44 billion. Trump Media plans to use about $2.32 billion of the net proceeds to create a Bitcoin treasury and cover the company's operations and other daily financing needs.
Became the fourth largest Bitcoin whale in U.S. stocks
If executed as planned, Trump Media will become the fourth largest Bitcoin holding company in U.S. stocks, second only to:
Strategy: holds 580,250 Bitcoins, currently valued at approximately $60.14 billion
Mara Holdings: holds 48,137 Bitcoins, currently valued at approximately $4.989 billion
XXI (full name Twe_nty One Cap_ital): holds 31,500 Bitcoins, currently valued at approximately $3.264 billion
Surpassing the Bitcoin holdings of Riot Platforms, which amount to $1.99 billion.
President: Buying Bitcoin will give the company 'financial freedom'
Devin Nunes, Chairman and CEO of Trump Media, stated that this deal will give the company 'financial freedom'
Previously, he also stated that this investment would create synergy for subscription payments, tokens, and other planned transactions on Truth Social and Truth+.
To enhance asset security, Trump Media entrusted Cry_pto. m and Anch_orage Dig_ital as trustees of its Bitcoin assets. The company's cash and short-term investments in the first quarter of 2025 amounted to $759 million, which will be listed alongside the Bitcoin assets on the balance sheet.
The stock price of Trump Media rises by more than 10%
Following the announcement, the stock price of Trump Media jumped by more than 10%, reaching a peak of $22.41, and ultimately closed at $21.33, narrowing the daily gain to 2.4%.
This massive release of Bitcoin reserves officially joins Trump Media into the ranks of companies embracing crypto assets, and it remains to be seen if this will encourage more companies to follow suit.
