Trump Media and Technology Group (TMTG), the company behind former U.S. President Donald Trump's social media platform Truth Social, has officially announced a fundraising initiative totaling US$2.5 billion (approximately IDR 40.7 trillion) aimed at acquiring Bitcoin.

In an announcement released on Tuesday (May 27, 2025), TMTG disclosed that the funds were raised through two methods: a US$1.5 billion equity offering and the issuance of US$1 billion in senior convertible bonds carrying a 0% interest rate. The transaction is expected to close on May 29, 2025.

Devin Nunes, CEO of TMTG, emphasized that the move was more than a traditional financial tactic. He described Bitcoin as the "ultimate instrument of financial freedom," now serving as a core component of the company’s investment portfolio.

Nunes also highlighted that owning Bitcoin could serve as a defense mechanism against potential pressure or bias from traditional financial institutions.

From Denial to Confirmation

This move came as a surprise to many, especially since TMTG had previously denied the investment rumors reported by the Financial Times just a day before the official announcement, even responding with sarcastic undertones.

Shortly after the official statement was made, TMTG’s stock price saw a sharp decline. According to data from Google Finance, the company’s share price dropped over 10% and was trading at around US$23.05 at the time of this article's writing.

TMTG’s decision aligns with a growing global trend in which companies — and even some governments — are increasingly adding Bitcoin to their balance sheets.

Most recently, Michael Saylor’s tech company Strategy purchased an additional 4,020 BTC on May 26, 2025, while Japanese investment firm Metaplanet expanded its holdings with the acquisition of 1,004 BTC for its digital asset portfolio.