Trump Media & Technology Plans to Raise $3B to Buy Cryptocurrencies, Report Says

Shares in Trump Media & Technology Group (DJT) are soaring in premarket trading Tuesday on a report that the company behind President Donald Trump’s Truth Social app is planning to raise $3 billion to buy cryptocurrencies such as bitcoin.

Trump Media stock is up nearly 10% in premarket trading but are down by almost a quarter so far this year entering Tuesday.

The Financial Times reported that Trump Media plans to raise $2 billion from the sale of new shares and another $1 billion from a convertible bond sale.  The report, which cited six people briefed on the matter, said the terms of the fundraising remain tentative though the deal could be announced before “a big meeting of crypto investors and advocates in Las Vegas this week, where vice-president JD Vance, Trump’s sons Donald Jr and Eric, and Trump’s crypto tsar David Sacks are expected to speak.”

According to the FT report, Trump Media said in a statement that “apparently the Financial Times has dumb writers listening to even dumber sources” but did not comment further. Trump Media didn’t immediately respond to an Investopedia request for comment.

Trump has said he wants to make the U.S. the “crypto capital of the planet” and has been a proponent of the industry since resuming the presidency in 2025. 

Business intelligence and bitcoin treasury company Strategy (MSTR), formerly known as MicroStrategy, has acquired billions of dollars in the digital currency in the past year by selling stock and convertible bonds. Strategy shares are up almost 30% so far this year entering Tuesday.