Trump Media and Technology Group has forcefully rejected suggestions that it intends to raise a multibillion-dollar war chest to buy Bitcoin and other digital assets, labelling the original Financial Times story “fake news” and ridiculing its unnamed sources.
The report, published on May 26, claimed the company planned to secure $2 billion in fresh equity and $1 billion in convertible bonds, positioning it to emulate corporate bitcoin treasuries such as MicroStrategy and Semler Scientific.
In a statement provided to the newspaper and reiterated to Cointelegraph, the social-media firm behind Truth Social dismissed the article’s authors as “dumb writers,” insisting no fund-raising effort was underway.
A spokesperson sharpened the criticism by adding that the paper was “apparently the Financial Times has dumb writers listening to even dumber sources.”
Anatomy of a rumor
Citing six unnamed individuals “briefed on the matter,” the FT had described a financing structure that would value any new stock at market prices as of May 23, when shares in Trump Media, trading under the ticker DJT, closed at $25.72, conferring a market capitalization of roughly $5.7 billion.
Convertible bonds would offer investors the option to exchange debt for equity at a later date, a mechanism that could have mitigated dilution concerns for existing shareholders while still funneling capital into crypto reserves.
If realised, the strategy would echo moves by Japanese investment firm Metaplanet and health-care company Semler, both of which publicly embraced Bitcoin exposure this year as a hedge against fiat currency debasement.
Political spotlight intensifies
Any overt pivot into digital assets by the Trump family’s media vehicle was always likely to attract partisan scrutiny.
Democratic lawmakers have already pushed back against bipartisan crypto bills they argue could benefit entities linked to the former president, staging protests over a May 22 dinner for memecoin investors hosted at Mar-a-Lago.
Critics warn that a company controlled by a political dynasty stands to profit from policy decisions it might one day influence, pointing to previous Trump-branded ventures that include non-fungible token collections, the TRUMP and MELANIA memecoins, and the decentralised finance outfit World Liberty Financial.
Some analysts counter that injecting Bitcoin into the balance sheet could offer a practical inflation hedge for a media group whose ad revenues are sensitive to economic cycles, while simultaneously bolstering its presence within a demographic of affluent crypto enthusiasts.
No shortage of precedent
Corporate enthusiasm for Bitcoin as a reserve asset has accelerated in 2025.
MicroStrategy expanded its holdings by 4,020 BTC last week, and newly listed trading-software developer Strategy converted nearly a quarter of its cash pile after a mid-May fundraising.
Metaplanet’s board in Tokyo went further, outlining a long-term allocation framework tied to monthly net income, a blueprint some Wall Street analysts believe could find favour among U.S. mid-caps.
Yet Trump Media’s categorical denial underscores the reputational and regulatory minefield companies must navigate when their crypto ambitions collide with complex public-markets disclosure rules.
For now, the firm appears intent on deflecting attention back to Truth Social’s planned expansion and its recently announced push into exchange-traded funds and crypto brokerage services in partnership with Crypto.com.
Whether the story was an innocuous misunderstanding or an intentional trial balloon, the episode illustrates how any whiff of Bitcoin enthusiasm from the Trump orbit can send headlines ricocheting across both political and market arenas.