Trump Media and Technology Group (TMTG), which is dominated by the family of US President Donald Trump, aims to raise $3 billion to be used in cryptocurrency investments. The funds will be provided through $2 billion in new capital raises and $1 billion in convertible bonds, according to the Financial Times.
TMTG’s strategy is similar to the one that MicroStrategy, a software company currently has a market value of over $100 billion, followed by. MicroStrategy is gaining attention for purchasing billions of dollars worth of Bitcoin through debt and stock issuance.
The company’s secondary list offerings will be carried out “in the market” or close to the market closing price. TMTG shares closed at $25.72 on Friday, giving a market value of around $6 billion.
President Trump previously vowed to make the United States the “crypto capital of the world.” The TMTG announcement could come ahead of the major crypto investors and supporters gathering in Las Vegas this week. Trump’s sons Donald Jr. and Eric Trump, US vice president JD Vance and Trump’s crypto advisor David Sachs are expected to speak at the event.
Details, timing and total plans are still subject to change, but two sources say they have been offered in recent weeks due to strong investor interest.
*This is not investment advice.
