President Donald Trump’s business ventures seem to be doing quite well while he is in office. The Financial Times reported on Monday that Trump Media and Technology Group (DJT), the company that operates the social media site Truth Social, is planning to raise $3 billion to buy crypto assets.
Trump Media & Technology Group Corp., founded in 2021 by Trump, is the parent company of Truth Social, a social media platform aimed at conservative audiences. Based in Sarasota, Florida, the company has expanded into digital streaming through Truth+ and financial services with Truth.Fi. In 2024, DJT reported a $400.9 million net loss on $3.6 million in revenue, citing legal expenses and changes in advertising agreements. Despite these losses, it maintains a market capitalization around $6 billion.
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In May, DJT announced plans to raise $3 billion — $2 billion in equity and $1 billion in convertible bonds — to invest in cryptocurrencies including Bitcoin, as part of a broader strategy to support U.S. leadership in digital assets. This marks a significant pivot toward financial innovation. As of May 27, DJT stock trades at $25.72. The company’s performance and bold investment moves continue to draw both scrutiny and investor interest.
The capital raise, which is said to combine an equity raise and convertible bond offering, could be announced at this week’s Bitcoin 2025 event held in Las Vegas between May 27-29, according to the report.
This $3 billion capital raise would give the company more cash to pursue new ventures — such as investing in cryptocurrencies — without relying solely on its current revenue. However, issuing new shares could dilute existing shareholders’ ownership, potentially lowering the stock’s value. Overall, the raise signals ambitious growth plans but also brings financial risks and questions about how effectively the funds will be used. If successful, the raise could significantly reshape DJT’s business strategy and market position in the evolving digital media and financial sectors.