In a bold move that has sent shockwaves across financial and digital asset markets, Trump Media & Technology Group (TMTG) announced plans to raise $2.5 billion to build a corporate Bitcoin treasury. This strategic pivot not only signals a major shift in TMTG’s financial model but also deepens the intersection between political branding and decentralized finance. While much attention has focused on former President Donald Trump’s growing influence in the crypto space, one entity stands to benefit more than most: crypto.com, the high-profile digital asset platform serving as a key custodian and technology partner.
From Denial to Confirmation in Under 14 Hours
The announcement came just hours after TMTG vehemently denied similar reports. On May 26, 2025, the Financial Times claimed TMTG was planning a $3 billion raise—$2 billion in stock and $1 billion in bonds—to invest in Bitcoin and other cryptocurrencies, with details expected before the Bitcoin 2025 conference. In response, TMTG dismissed the report as baseless, calling the journalist “foolish” and accusing them of relying on “even more foolish sources.”
Yet, by the next day—May 27—TMTG officially confirmed a nearly identical plan, albeit slightly adjusted: a $2.5 billion capital raise through the issuance of $1.5 billion in common stock and $1 billion in zero-coupon convertible senior secured notes. According to Bloomberg, the offering attracted around 50 institutional investors and was expected to close by May 29.
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The timing was strategic. The Bitcoin 2025 conference, held on the Las Vegas Strip, brought together top figures in the crypto world, including Vice President JD Vance, Trump’s sons Donald Trump Jr. and Eric Trump, White House crypto advisor David Sacks, and MicroStrategy’s Michael Saylor. With Bitcoin prices nearing all-time highs, TMTG’s announcement leveraged peak market sentiment to maximize visibility and impact.
Market reaction was volatile. TMTG’s stock (DJT.O) surged as much as 18.2% in pre-market trading before plunging to a 12% loss—its worst single-day drop since March 10—before closing up 2.88%. Meanwhile, crypto-related stocks rallied: Coinbase rose 1.89%, MicroStrategy gained 2.1%, and Marathon Digital (MARA) climbed 3.8%.
Despite its $5 billion market cap, TMTG reported only $820,000 in revenue and a $32 million loss in Q4 2024. As Baylor University finance professor Mike Stegemoller noted, “This looks less like a business strategy and more like an abandonment of one.”
Embracing the Corporate Bitcoin Treasury Trend
TMTG’s move aligns with a growing trend among public companies: adopting Bitcoin as a long-term treasury reserve asset. The most prominent example is MicroStrategy, whose CEO Michael Saylor has transformed the company into a de facto Bitcoin investment vehicle. By raising capital to buy BTC, MicroStrategy has seen its valuation surge alongside Bitcoin’s price.
TMTG appears to be pursuing what David Bailey—Trump’s crypto advisor—called a “squared version of MicroStrategy.” This strategy hinges on the belief that Bitcoin will appreciate over time, thereby increasing shareholder value regardless of core business performance.
But unlike MicroStrategy, TMTG lacks a stable revenue foundation. Truth Social, its flagship platform, has struggled to monetize its user base amid fierce competition and high operating costs. With only $759 million in cash and equivalents as of Q1 2025, the $2.5 billion raise is critical for survival—and for funding broader ambitions.
The ideological alignment is also significant. Truth Social positions itself as a bastion of free speech, resisting censorship from Big Tech platforms. That ethos resonates with Bitcoin’s decentralized, anti-establishment roots. By embracing digital assets, TMTG strengthens its appeal to libertarian-leaning users and crypto investors alike.
Moreover, this initiative extends the Trump family’s expanding footprint in crypto:
- Eric Trump co-founded American Bitcoin, which recently announced IPO plans.
- World Liberty Financial, backed by the Trump family, secured $2 billion from UAE investors.
- Donald Trump Jr.’s PSQ Holdings revealed plans to explore digital asset investments.
- The president hosted top holders of the $TRUMP meme coin at his Virginia golf club.
These developments suggest a coordinated effort to build a “Trump-aligned” crypto ecosystem—one where political loyalty and digital asset ownership increasingly converge.
Why crypto.com Is the Hidden Beneficiary
While TMTG grabs headlines, crypto.com emerges as a quiet powerhouse behind the scenes. As one of the designated custodians for TMTG’s Bitcoin holdings—alongside Anchorage Digital—the platform gains immense credibility and exposure.
But their relationship goes deeper than custody. In March 2025, TMTG partnered with crypto.com to launch an ETF product under its Truth.Fi financial brand. The proposed fund would include Bitcoin, Cronos (CRO), and other digital assets, with crypto.com providing technological infrastructure and custodial services. Though still pending regulatory approval, this collaboration underscores a strategic alliance with long-term implications.
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Beyond business ties, crypto.com shares ideological alignment with the current administration:
- In October 2024, it sued the SEC after receiving a Wells Notice, challenging federal overreach.
- After Trump nominated pro-crypto Paul Atkins as SEC chair, crypto.com dropped the lawsuit.
- By March 2025, the SEC concluded its investigation without enforcement action.
- In May 2025, crypto.com opened a new office in Washington, D.C., reinforcing its policy presence near Capitol Hill.
This convergence of regulatory strategy and geographic positioning suggests more than coincidence—it reflects a shared vision for a deregulated, innovation-driven financial future.
Core Keywords
- Bitcoin treasury
- Corporate Bitcoin adoption
- Crypto.com
- Trump Media & Technology Group (TMTG)
- Digital asset custody
- Institutional crypto investment
- Bitcoin ETF
- Decentralized finance (DeFi)
Frequently Asked Questions
Q: Why is TMTG investing in Bitcoin instead of growing its core business?
A: The move reflects a strategic bet on Bitcoin’s long-term appreciation. With limited revenue and high burn rates, TMTG may see Bitcoin as a faster path to value creation than scaling Truth Social alone.
Q: How does crypto.com benefit from this deal?
A: As custodian and tech partner, crypto.com gains institutional credibility, potential fee revenue, and brand association with a high-profile political movement—boosting trust and user acquisition.
Q: Is this similar to MicroStrategy’s Bitcoin strategy?
A: Yes, but riskier. Like MicroStrategy, TMTG uses equity and debt financing to buy Bitcoin. However, TMTG lacks diversified revenue streams, making it more vulnerable to market swings.
Q: What are the risks of holding Bitcoin on corporate balance sheets?
A: Price volatility is the biggest concern. Sharp declines could erode shareholder value and damage investor confidence, especially if the company lacks strong operational fundamentals.
Q: Could this influence other companies to follow suit?
A: Potentially. If successful, TMTG’s model might inspire politically aligned or financially struggling firms to adopt similar strategies—especially if regulatory conditions become more favorable.
Q: Is there regulatory risk for crypto.com as custodian?
A: Yes. While the SEC closed its investigation in March 2025, ongoing scrutiny of custody practices and compliance remains a concern for all major crypto platforms.
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Final Thoughts
TMTG’s $2.5 billion Bitcoin treasury plan is more than a financial maneuver—it’s a statement of ideology, ambition, and brand evolution. Whether it succeeds depends not just on Bitcoin’s price trajectory but on execution, governance, and market perception.
Yet one outcome seems clear: while Trump and his media empire make headlines, crypto.com is positioning itself at the heart of a new financial paradigm—one where politics, technology, and digital assets increasingly intersect.