Trump Media Group Reportedly Plans To Raise $3 Billion To Buy Cryptocurrencies: 'Borrowing A Page' From MSTR Playbook, Says Peter Schiff

Trump Media & Technology Group DJT, the Trump family’s media company, is reportedly strategizing to raise a $3 billion investment in cryptocurrencies, such as Bitcoin BTC/USD, Ethereum ETH/USD and Dogecoin DOGE/USD.

What Happened: TMTG, the organization owned by the Trump family, is looking to raise $2 billion in new equity and an additional $1 billion through a convertible bond. This announcement could be made public ahead of a significant gathering of crypto investors and supporters in Las Vegas this week, as reported by the Financial Times on Monday.

After his re-election last year, President Donald Trump transferred his 53% stake in TMTG, currently valued at around $3 billion, to a revocable trust managed by his son Donald Jr.

Last month, a publicly traded blank-check company headed by Brandon Lutnick — the son of Commerce Secretary Howard Lutnick — announced a $3.6 billion deal to create a Bitcoin acquisition firm named Twenty One Capital, in partnership with Tether and SoftBank.

Trump Media & Technology Group slammed the FT report, as per the publication.

SEE ALSO: Trump’s Plan To ‘Rip The Waste Out’ Means End Of The Road For The Penny, But What Happens When Cash Totals Jump To The Next Nickel – Benzinga

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Why It Matters: This move by TMTG comes after Bitcoin’s price surpassed a record-high of $109,000 last week. Notably, in April, Trump Media & Technology Group Corp. saw a rally of over 25% in just five days. This surge was attributed to a high-profile partnership with Crypto.com and Yorkville America Digital, which led to the launch of a suite of “America-First” ETFs.

Meanwhile, notable economist Peter Schiff commented on X that TMTG is borrowing a page from Strategy MSTR co-founder Michael Saylor‘s “playbook.” Strategy, previously MicroStrategy, has transformed its market value to over $100 billion by leveraging debt and equity offerings to acquire tens of billions of dollars’ worth of Bitcoin.

Peter Schiff also took a dig at TMTG, saying it’s unfortunate that Trump’s company isn’t able to open a factory and manufacture real products to help Americans avoid the impact of his own tariffs.

On Friday, DJT stock climbed 4.64% to close at $25.72. On a year-to-date basis, it plunged 24.4%.

• READ MORE: After Jensen Huang Criticized US Export Curbs, Nvidia Set To Launch Cheaper Blackwell AI Chip For China Amid Market Share Slide: Report

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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.