Trump Media and Technology Group Announces SEC Approval of Bitcoin Reserve Plan
Trump Media and Technology Group (TMTG), majority-owned by US President Donald Trump, announced last Friday that the US Securities and Exchange Commission (SEC) has declared its previously proposed Bitcoin reserve plan officially effective, allowing the company to use the $2.3 billion capital recently raised from around 50 institutions to purchase Bitcoin.
The public filing by TMTG did not specify the quantity of Bitcoin planned to be purchased, but stated that the company “will purchase Bitcoin and related assets at times and amounts it deems appropriate.”
The filing also includes a generic shelf registration, permitting TMTG to issue up to $12 billion in stocks, bonds, or warrants at any time. The company stated in a press release that there are currently no plans to issue any securities based on this registration statement.
Approximately 84.7 million shares held by early investors have now been registered for resale, accounting for half of the company’s publicly traded shares and 30% of the total issued shares. The company is traded on the Nasdaq Stock Exchange under the ticker symbol DJT.
The filing highlighted, “TMTG’s Bitcoin strategy may also involve purchasing securities related to Bitcoin, or selling Bitcoin in certain market conditions, and investing the proceeds in cash, cash equivalents, or other interest-bearing investment vehicles.”
In addition to the social media platform Truth Social, TMTG also operates the Truth+ streaming service and launched the financial technology brand Truth.fi with cryptocurrency ambitions in January of this year. Source: [source]
