Trump Media Goes Big on Bitcoin with $2.3 Billion Haul

Truth Social's Parent Company Files S-3 Amidst Massive Fundraising

Holy smokes, folks! Trump Media & Technology Group, the brains behind Truth Social, just dropped a bombshell with a Form S-3 filing after raking in a cool $2.3 billion. They're gearing up to build one of the fattest Bitcoin treasuries you've ever seen!

Get this: the filing was announced with a bang on June 5, hot on the heels of some wild debt and equity deals with around 50 investors. They're talking about selling 55.8 million common shares at a whopping $25.72 each, plus dishing out $1 billion in zero-coupon convertible notes due 2028, convertible at $34.72 per share. That's right, they scooped up about $2.32 billion in total!

So, what are they gonna do with all that cash? They're diving headfirst into Bitcoin (BTC) and juicing up their general corporate game. Crypto.com and Anchorage Digital are the lucky ducks chosen to hold onto their shiny Bitcoin stash. Oh, and they're not stopping there – the filing's got about 56 million shares and 29 million convertible-note-linked shares ready for resale, plus a universal shelf provision that's just screaming "watch this space!"

This is all part of TMTG's grand plan to grow bigger than ever. That shelf provision? It's like a Swiss Army knife for issuing more securities down the line. They're not planning to use it right away, but they're keeping it in their back pocket for mergers, acquisitions, or whatever else they dream up.

Devin Nunes, the big boss at TMTG, is stoked about this move. "We're putting the pieces together to grow this company like you wouldn't believe, grab some killer assets, and pull more folks into the patriot economy," he declared with a fire in his eyes.

He's also making it crystal clear that this Bitcoin play is all about keeping their distance from those stuffy traditional financial institutions.

Trump Media's not messing around – they're calling this their shield against what they see as banks and financial platforms playing dirty. Nunes has been singing Bitcoin's praises, calling it the "apex instrument of financial freedom" and saying it's all about their "America First" mission.

And guess what? This filing comes right after they announced they're teaming up with Crypto.com to shake things up with new crypto exchange-traded funds and financial products. Trump Media's joining the ranks of other public companies like Strategy and GameStop, all using the capital markets to stack up those digital assets.