Donald Trump is pushing every chip forward, tying his entire family’s wealth to Bitcoin while sitting in the White House during his second term. The US president, according to Bloomberg, is worth $5.2 billion, and now a massive chunk of that is about to rise or crash with the price of crypto. The gamble is being executed through Trump Media and Technology Group, a company that’s been losing money for years and just revealed a new plan to raise $2.5 billion to buy Bitcoin. The company reported on Tuesday that it will sell $1.5 billion worth of stock and issue another $1 billion in convertible bonds to fund the purchase. Its latest filing showed the company held just $759 million in cash and investments as of Q1, making the raise necessary to cover the full cost. Cantor Fitzgerald is advising on the deal, which is expected to close by May 29. Devin Nunes, the CEO of Trump Media, described Bitcoin as “ the apex instrument of financial freedom ,” confirming that the purchase will be central to the company’s new direction. Trump family pushes crypto agenda from every angle Trump has appointed regulators favorable to the industry, built a national crypto reserve, ended federal prosecutions of crypto firms, and even issued presidential pardons for industry figures. But this week, that policy support became personal. Eric Trump and Donald Trump Jr. have been actively promoting crypto across the globe, appearing at conferences in Abu Dhabi, Washington, and Dubai over the last few months. This week, they’re scheduled to appear again, this time in Las Vegas, alongside Vice President JD Vance. Their attendance at these events is drawing criticism over conflicts of interest, especially as the financial health of their family’s businesses now depends heavily on Bitcoin’s price. At the same time, Trump Media’s core product, Truth Social, is bleeding cash. The company brought in only $820,000 in revenue last quarter and lost $38 million. In 2024, it reported a net loss of $401 million. Yet despite these figures, Trump continues to hold onto a major stake. Through a trust overseen by Donald Jr., Trump owns $2.6 billion worth of shares in the company. The pivot to Bitcoin mirrors a broader trend. According to CoinGecko, over 30 US companies now hold Bitcoin in their corporate treasuries, and analysts at Bernstein say the asset could attract $330 billion in institutional capital by 2030. Trump Media’s is just the loudest. Crypto deals multiply across Trump-linked businesses Just hours after Trump Media’s announcement, other companies tied to Trump-world joined the action. PSQ Holdings, where Donald Jr. is a board member, said it would begin to “ explore ” holding crypto as part of its assets. Strive Asset Management, co-founded by Vivek Ramaswamy, launched a $750 million Bitcoin fund that same day. All of it points to a coordinated push across Trump’s business network to buy into the crypto boom. In the government itself, allies are also moving. Cantor Equity Partners, a SPAC run by Brandon Lutnick, the son of Commerce Secretary Howard Lutnick, is working with Tether and Softbank Group to launch a new venture called Twenty One Capital with the aim of building a Bitcoin stockpile. Trump’s connections don’t stop there. Major holders like Michael Saylor’s Strategy and Elon Musk’s Tesla are already heavily invested in Bitcoin. Metaplanet, a Tokyo-based firm where Eric is now listed as an adviser, has also been aggressively adding crypto to its portfolio. And Hut 8, now a majority stakeholder in a new mining company backed by Trump’s family, is the latest to step into the space. Bitcoin’s price has responded to all the attention. It surged past $112,000 last week, setting a new record. Since Trump won reelection in November, Bitcoin is up 55%. But while Bitcoin’s value surged, Trump Media shares dropped by 34%, proving just how unstable the company remains even as it gets into crypto. Cryptopolitan Academy: Tired of market swings? Learn how DeFi can help you build steady passive income. Register Now
