Trump Media Denies $3 Billion Crypto Investment Plan Amid Scrutiny

Trump Media and Technology Group, the parent company of Donald Trump’s social media platform Truth Social, has denied reports that it is planning to raise $3 billion to invest in Bitcoin and other cryptocurrencies. The denial came in response to an article that cited six sources familiar with the matter. Trump Media criticized the report, stating that the sources were unreliable.

The article suggested that Trump Media was allegedly planning to raise $2 billion through an equity offering and an additional $1 billion via convertible bonds. The proposed equity issuance was said to be pegged to the market price as of May 23. If the company had followed through with the plan, it would have joined other publicly traded firms that have started accumulating Bitcoin as a strategic treasury reserve asset. These companies argue that crypto holdings serve as a hedge against inflation and a safeguard against financial stagnation.

The denial from Trump Media comes amid broader scrutiny of Trump’s ties to digital assets, including meme coins and NFTs. This scrutiny follows a controversial crypto-themed dinner hosted by Trump on May 22, which attracted significant media attention and protest. Trump’s crypto footprint includes various initiatives such as non-fungible token (NFT) collections, the TRUMP and MELANIA meme coins, a DeFi project called World Liberty Financial, and a dollar-pegged stablecoin.

Adding to the complexity, Trump reportedly transferred his 53% ownership in Trump Media to a revocable trust managed by his son, Donald Trump Jr., raising questions about potential financial entanglements.

While Trump Media has denied any interest in buying crypto, other companies are embracing Bitcoin. Paris-based Blockchain Group raised €63.3 million ($72 million) to purchase an additional 590 BTC. The firm’s goal is to grow its Bitcoin reserves to 1,437 BTC. The bulk of the bond sale was backed by Fulgur Ventures and Moonlight Capital. The bonds are structured to be convertible into Blockchain Group shares.

Strategy, the largest corporate holder of Bitcoin, also continued its aggressive accumulation strategy with a new purchase of 4,020 BTC for $427.1 million. This buy coincided with Bitcoin’s sharp rally past $110,000 on May 22. With this addition, Strategy’s total Bitcoin holdings now stand at 580,250 BTC, bought at a cumulative cost of approximately $40.6 billion.

Despite the bullish accumulation, internal stock sales by company executives have attracted some attention. Jarrod Patten, a director at Strategy, sold 2,650 shares of the company’s Class A stock between May 16 and 21, netting nearly $1.1 million. Meanwhile, Strategy CFO Andrew Kang sold 2,185 shares on May 23, generating proceeds of $719,447. These executive stock sales happened at a time when Strategy’s own shares faced sharp declines.

The stock decline followed the filing of a class-action lawsuit on May 19, which accuses Strategy of securities fraud. The suit claims that the company misrepresented aspects of its Bitcoin investments, which allegedly led to investor losses in April of 2025. While the legal proceedings are still ongoing, the developments introduced volatility to Strategy’s share price.