President Donald Trump’s media company just pulled in $2.5 billion from investors — and plans to use the money to build up a massive bitcoin reserve.
Trump Media & Technology Group, which runs Truth Social, announced Tuesday that about 50 institutional investors are putting up the cash. $1.5 billion will come from private stock sales, and another $1 billion from convertible notes.
The company says the money will fund a new “bitcoin treasury,” marking a major shift in Trump’s stance on crypto. It also mirrors Trump’s call for a “strategic bitcoin reserve” for the U.S. government.
Trump once dismissed crypto as “not money” and said it was “based on thin air.” But now he’s all in. During his campaign, he became the first major presidential candidate to accept crypto donations. He’s even launched his own cryptocurrency, the $Trump memecoin.
Last week, Trump threw a flashy dinner at a luxury golf club in northern Virginia for 220 of the top $Trump token holders. The event drew criticism for blurring the line between his political role and personal profit.
At Mar-a-Lago earlier this month, Trump met with major crypto donors who promised to spend big to help him win in November. He also spoke at a top bitcoin conference during the campaign. Vice President JD Vance is set to appear at the same event this week.
