Trump Media & Technology Group is diving deeper into crypto with a $2.5 billion investment in Bitcoin, aiming to solidify its presence in the financial sector.
The firm is raising funds through a $1.5 billion stock sale and $1 billion in convertible notes, with custody handled by Anchorage Digital and Crypto.com.
CEO Devin Nunes called Bitcoin a symbol of “financial freedom,” aligning the move with the company’s America First strategy. The investment comes as part of a broader plan to launch crypto and ETF products tailored to retail investors.
While Trump Media’s stock dipped 6% on the news, the company continues to expand its crypto footprint—adding to previous ventures like NFTs, meme coins, and a stake in Bitcoin miner American Bitcoin.
The aggressive push has drawn regulatory attention, with Senator Elizabeth Warren questioning oversight of Trump-linked ETFs.
With over $750 million already on its balance sheet, Trump Media is positioning itself as a politically charged player in the crypto-finance arena.
Bitcoin has surged toward the $122,000 mark following a wave of short liquidations, echoing market behavior last seen in November 2024.
Standard Chartered has taken a major step into the cryptocurrency space, becoming the first globally systemically important bank to offer spot trading for Bitcoin (BTC) and Ethereum (ETH) to institutional clients.
TD Cowen has boosted its price target for Strategy (formerly MicroStrategy) to $680, up from $590.
Bitcoin (BTC) has hit a new all-time high today at $123,090 as per data from CoinMarketCap and trading volumes have exploded as a result. Nearly $180 billion worth of Bitcoin has exchanged hands in the past 24 hours. This represents a 284% increase during this period. This volume accounts for 7.5% of BTC’s circulating supply. […]