Trump Media Raises $2.44B, Pivots to Bitcoin

Trump Media & Technology Group (DJT) has successfully completed a private placement with approximately 50 institutional investors, raising 2.44 billion dollars. The company issued 55.86 million shares of common stock at a price of 25.72 dollars per share, raising 1.44 billion dollars. Additionally,

DJT plans to use approximately 2.32 billion dollars of the funds to establish a Bitcoin reserve and for other general corporate purposes and working capital. Concurrently, another company associated with the Trump family, PSQ, is also seeking to expand its Bitcoin reserves. This move positions DJT as one of the largest holders of Bitcoin among publicly traded companies in the United States.

DJT operates the Truth Social platform, which has been operating at a loss since its inception. Truth Social has generated only a few million dollars in advertising revenue. DJT's CEO, Devin Nunes, stated that the company will focus on acquiring high-quality assets, and this transaction provides sufficient funds to implement the rest of its strategy. He added that the transaction gives the company over 3 billion dollars in liquid assets and allows shareholders to benefit from the potential gains of Bitcoin.

Following the completion of this financing round, Bitcoin will be included in DJT's balance sheet, alongside 759 million dollars in cash, cash equivalents, and short-term investments as of the end of the first quarter of 2025. Investors anticipate that DJT will follow a similar

Professor Mike Stengel of the University of Texas at Austin noted that DJT appears to be shifting away from its original business strategy, which does not resemble a high-growth social media platform. The company is moving away from reliance on advertising revenue and towards cryptocurrencies and financial services. This strategic pivot reflects a broader trend in the industry, where companies are increasingly exploring digital assets as a means of diversifying their revenue streams and enhancing their financial stability.