Trump Media and Technology Group (TMTG), parent company of Truth Social and partly owned by former President Donald Trump, has confirmed raising $2.5 billion in capital for a significant Bitcoin investment — just a day after mocking earlier media reports about the deal.

The funding package includes $1.5 billion in common stock sold at the most recent closing price and another $1 billion through senior secured convertible bonds, priced at a 35% premium with a 0% coupon. The transaction is expected to close on May 29.

According to the press release, the Bitcoin holdings will be managed alongside $759 million in cash and short-term investments reported at the end of Q1. Anchorage Digital and Crypto.com will be responsible for digital asset custody.

The confirmation follows public criticism by TMTG directed at the Financial Times, which had first reported the deal citing anonymous sources. TMTG responded by calling the publication's journalists and sources “dumb,” a quote later echoed by several crypto outlets.

Markets, however, reacted unfavorably. TMTG shares fell over 12%, trading at around $23.05 at the time of writing, according to Google Finance.

With this move, Trump Media joins a growing list of publicly traded companies incorporating Bitcoin into their treasury strategies — a model popularized by Strategy (formerly MicroStrategy), which recently allocated another $427 million to acquire 4,020 BTC.

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