Trump Media Denies $3 Billion Crypto Investment Plan

The denial from Trump Media happened amid broader scrutiny of Trump’s ties to digital assets, including meme coins and NFTs, and also follows the controversial crypto-themed dinner that was hosted by Trump on May 22. Meanwhile, other firms are embracing Bitcoin. Paris-based Blockchain Group raised $72 million to buy 590 BTC, and plans to control 1% of Bitcoin’s total supply by 2032. Similarly, Strategy—the largest corporate Bitcoin holder—added 4,020 BTC to its portfolio for $427.1 million, pushing its total stash to 580,250 BTC. However, executive stock sales and a securities fraud lawsuit weighed on Strategy’s share price. Trump Media Rejects Bitcoin Buying Rumors Trump Media and Technology Group, the parent company of President Donald Trump’s social media platform Truth Social, denied reports that it is preparing to raise $3 billion to invest in Bitcoin and other cryptocurrencies. The denial came in response to a May 26 article by the Financial Times, which referred to six sources who are familiar with the matter. Trump Media criticized the report by stating, “apparently the Financial Times has dumb writers listening to even dumber sources.” According to the Financial Times, Trump Media was allegedly planning to raise $2 billion through an equity offering and an additional $1 billion via convertible bonds—which are securities that can be converted into equity at a later stage. The proposed equity issuance was said to be pegged to the market price as of May 23, when shares of Trump Media (DJT) closed at $25.72, pushing the company’s market cap to $5.7 billion after a 4.6% daily increase. Trump Media share price over the past 24 hours (Source: Google Finance ) If the company actually followed through, the move would have made Trump Media part of the many other publicly traded firms like Strategy, Metaplanet, and Semler Scientific that started accumulating Bitcoin as a strategic treasury reserve asset. These companies argue that crypto holdings serve as a hedge against inflation and a safeguard against becoming financially stagnant or obsolete. The rumour spread during a growing scrutiny over the Trump family’s expanding involvement in the crypto space. Over the past few weeks, Democratic lawmakers raised concerns over what they view as potential conflicts of interest, particularly after Trump hosted a controversial “meme coin dinner” on May 22 that attracted a lot of media attention and protest. Trump’s crypto footprint includes various initiatives like non-fungible token (NFT) collections, the TRUMP and MELANIA meme coins, a DeFi project called World Liberty Financial, and a dollar-pegged stablecoin. (Source: Bluesky ) Adding to the complexity, Trump reportedly transferred his 53% ownership in Trump Media to a revocable trust managed by his son, Donald Trump Jr., which raised even more questions about potential financial entanglements after Trump returned to office. Blockchain Group Raises $72M to Buy More Bitcoin While Trump Media made it very clear that it has no interest in buying crypto, the same cannot be said for other companies. Paris-based crypto firm Blockchain Group is expanding its Bitcoin treasury with a new €63.3 million ($72 million) bond sale, to purchase an additional 590 BTC. The announcement was made on May 26, and shared details about the firm’s goal of growing its Bitcoin reserves to 1,437 BTC. At current Bitcoin prices above $109,000, the funds raised could theoretically buy around 658 BTC, though only 95% of the proceeds are earmarked for Bitcoin purchases. The remainder is allocated to management fees and operational costs. The bulk of the bond sale was backed by Fulgur Ventures, which invested €55.3 million ($62.9 million), while Moonlight Capital added another €5 million ($5.7 million). The bonds are structured to be convertible into Blockchain Group shares at €3.809 ($4.34) each. Listed under the ticker ALTBG on Euronext Paris, Europe’s second-largest stock exchange, Blockchain Group has gained a lot of attention since it began acquiring Bitcoin on Nov. 5. After its initial Bitcoin purchase, the stock surged 225% to €0.48 ($0.52) and has soared by 766% year-to-date despite a 5.5% drop on May 26. According to its April 30 financial disclosure , the Blockchain Group reported a yield of over 709% from its Bitcoin holdings. However, the company’s total revenue for the 2024 fiscal year came in at €13.86 million ($15.8 million), which was down 32.1% from €20.4 million ($23.2 million) the year before. The firm also revealed an ambitious long-term objective of buying 1% of the entire Bitcoin supply by 2032, which would equate to more than 170,000 BTC. The Blockchain Group also joined the growing list of companies adopting a Bitcoin-focused treasury strategy. Swedish health tech firm H100 Group AB announced its own Bitcoin pivot on May 22, while Strive Asset Management declared on May 7 that it would also become a Bitcoin treasury company. Strategy Buys 4,020 More Bitcoin Strategy, the largest corporate holder of Bitcoin, also continued its aggressive accumulation strategy with a new purchase of 4,020 BTC for $427.1 million between May 19 and May 23. The company revealed the acquisition on May 26, and pointed out that the latest purchase was made at an average price of $106,237 per coin. This buy coincided with Bitcoin’s sharp rally past $110,000 on May 22. With this addition, Strategy’s total Bitcoin holdings now stand at a staggering 580,250 BTC, which was bought at a cumulative cost of approximately $40.6 billion. The average purchase price for its entire position sits at $69,979 per coin. Despite the bullish accumulation, internal stock sales by company executives have attracted some attention. Jarrod Patten, a director at Strategy, sold 2,650 shares of the company’s Class A stock between May 16 and 21, netting nearly $1.1 million. Since April 22, Patten sold 17,050 shares worth about $6.7 million in total. Meanwhile, Strategy CFO Andrew Kang sold 2,185 shares on May 23, generating proceeds of $719,447. These executive stock sales happened at a time when Strategy’s own shares ( MSTR ) faced sharp declines. After peaking at an all-time high of around $474 in November of 2024, MSTR dropped roughly 12% over the past week, trading down from approximately $420 to $369. Strategy stock price over the past 5 days (Source: TradingView ) The stock decline followed the filing of a class-action lawsuit on May 19, which accuses Strategy of securities fraud. The suit claims that the company misrepresented aspects of its Bitcoin investments, which allegedly led to investor losses in April of 2025. While the legal proceedings are still ongoing, the developments introduced volatility to Strategy’s share price.

Source: Coinpaper