Bitcoin Dips Below $104,000 As Trump Media Raises $2.32 Billion To Build BTC Treasury

Ivan Crnogatić

May 30, 2025

Bitcoin (CRYPTO: BTC) continues to slide on Friday and is down 2.5% at the time of publication, trading around $104,000, even as Trump Media and Technology Group (NASDAQ:DJT) has closed a $2.44 billion private placement offering to establish a corporate Bitcoin treasury.

What Happened: The offering consisted of 55.8 million shares of common stock at $25.72 per share for $1.44 billion in gross proceeds, plus $1 billion in convertible senior secured notes due 2028.

Trump Media will use approximately $2.32 billion in net proceeds to acquire Bitcoin and fund general corporate purposes.

“Trump Media is focused on acquiring great assets, and this deal will give us the financial freedom to implement the rest of our strategies,” said CEO and Chairman Devin Nunes in a press release.

The company expects to become “one of the top Bitcoin holders among publicly-traded U.S. firms with one of the most comprehensive Bitcoin treasury strategies.”

The announcement initially triggered a 10% drop in DJT shares on Tuesday morning as traders sold the news.

Trump Media, which operates Truth Social and the FinTech brand Truth.Fi, is down more than 37% year-to-date.

Also Read: Trump Administration Eyes Strategic Bitcoin Reserve As Part Of US Market Infrastructure Overhaul

Why It Matters: The timing of Trump Media’s Bitcoin treasury announcement coincides with broader market volatility that has seen Bitcoin pull back from recent highs.

The apex crypto has struggled to hold on to early-week gains, dipping as low as $103,901 on Friday afternoon.

Prominent cryptocurrency analyst Kevin noted the relative resilience of Bitcoin during the recent selloff as many altcoins like Ethereum (CRYPTO: ETH), XRP (CRYPTO: XRP) and Solana (CRYPTO: SOL) recorded losses between 3.5% and 6% on Friday.

Some traders view the current weakness as a potential buying opportunity.

Prominent trader Flow Horse suggested that a sweep of $101,000 down to $97,000 is “probably a great bounce opportunity, if it presents.”

Read Next:

$110M Wiped Out: Bitcoin Whale Trader Gets Burned As BTC Tags $104,150

Image: Shutterstock

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