U.S. President Donald Trump has increasingly shown interest in the cryptocurrency market as part of his company’s expansion plans. Trump Media & Technology Group, which owned by Donald Trump is looking to raise about $3 billion in order to invest in cryptocurrencies like Bitcoin and increase its market share in the digital asset field.
The fundraising effort will include around $2 billion raised through new equity shares, complemented by $1 billion via convertible bonds, according to Reuters, which cited a report by the Financial Times.
The figures are estimates, and as discussions continue, the business may change the amount and timing of the capital raise.
Upon Reuters’ request for a comment, Trump Media rejected the reports, calling them “fake news.” No official statement has been issued by the White House so far.
Trump Media, which operates the Truth Social platform, is working to broaden its business scope beyond social media. The company is considering mergers and acquisitions as part of its plan to move into the financial services industry.
In recent developments, Trump Media signed a binding agreement to roll out various retail investment products. These include cryptocurrency-related investments and exchange-traded funds that reflect President Trump’s “America First” agenda.
This shift toward financial offerings has raised concerns among regulators and ethics officials, who are keeping a close watch on the company’s activities.
The anticipated capital raise is expected to be announced ahead of a major cryptocurrency investor conference scheduled for later this week. Vice President JD Vance and Trump’s sons, Donald Jr. and Eric, are slated to speak at the event.
Alongside these fundraising plans, Trump’s involvement in the cryptocurrency space is growing, with interests reportedly spanning World Liberty Financial, Trump Media & Technology Group’s crypto ETFs, American Bitcoin, and even a $TRUMP memecoin.
Following the news, Bitcoin’s price increased by 1.5 per cent, recording its largest rise in four days. At present, it stands at $109,677.80, with a slight gain of $0.04.
