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Trump Media & Technology Group (TMTG), the parent company of Truth Social, has announced a significant $2.5 billion capital raise to establish a Bitcoin treasury. This move marks a notable shift in the company's strategy, aligning with broader trends in cryptocurrency adoption
💰 Capital Raise Details
The $2.5 billion funding comprises:
$1.5 billion from private placements of common stock$1 billion from convertible senior secured bonds with a 0% couponAP News
The transaction is expected to close on May 29, 2025, with approximately 50 institutional investors participating$BTC
📉 Market Reaction
Despite the ambitious plan, TMTG's stock experienced volatility. Shares initially surged 15% in premarket trading but later fell by 10% after market open, reflecting investor uncertainty .
🔄 Broader Crypto Initiatives
This development is part of TMTG's broader strategy to expand into the cryptocurrency space. The company has previously announced plans to launch exchange-traded funds (ETFs) under its Truth.Fi brand, focusing on digital assets and decentralized finance$XRP