š¢ Trump Media Raises Bitcoin War Chest to $12āÆB
Trump Media & Technology Group (TMTG), the parent company behind Truth Social, has filed to raise a massive $12āÆbillion through securities issuance to expand its Bitcoin-buying program .
š Whatās Going On:
This move builds on TMTGās $2.5āÆB capital raise just weeks ago aimed at building a Bitcoin treasury .
The new proposalānicknamed the āBeautiful Billāāwould significantly widen their crypto budget, though it still awaits Senate approval .
š Broader Push into Crypto:
TMTG recently filed for a Truth Social Bitcoin ETF, aiming to let investors gain BTC exposure through NYSE Arca-listed funds .
This is part of a broader strategy to position the company and Trump himself as major players in digital assetsāfueling speculation about policy changes under a future Trump administration .
š§ Why It Matters:
Size & Scale: $12āÆB is a massive war chestāpotentially rivaling pools held by blue-chip Bitcoin companies like MicroStrategy.
Regulatory Hurdles: Approval is not assured and will face intense scrutiny, especially amid concerns about Trumpās influence and conflicts .
Market Hype: If successful, this could drive strong retail and institutional interest in their ETF and Bitcoin holdings.
š® What to Watch:
Senate vote on the securities filing (including āBeautiful Billā terms).
SEC approval timing for the Truth Social Bitcoin ETF.
$BTC price reaction to each funding milestone announcement.