Overview

• The company announced on May 28 it will raise $1.5 billion in common stock and $1 billion in zero-coupon convertible notes to build a $2.5 billion Bitcoin reserve.
• Shares plunged more than 15% on the day of the announcement and extended losses the following session, leaving DJT down over a third year-to-date.
• CEO Devin Nunes said the Bitcoin treasury will serve as a hedge against perceived financial discrimination and power future crypto offerings on Truth Social and Truth+.
• Issuing 58.3 million new shares risks pushing the Trump family’s ownership below 50%, raising concerns over weakened corporate governance.
• The company posted a $31.7 million net loss in Q1 2025, intensifying doubts about its long-term financial sustainability.