#TMTG #Investing"
đ¨ Billionaire Snaps Up $100M of Trump Coin! đ
A Chicago trading firm, DRW Investments, just dropped $100M to snag 4M shares in Trump Media & Technology Group (TMTG), the company behind Truth Social. This comes hot on the heels of TMTGâs plan to raise $2.5B to buy a massive Bitcoin stashâpotentially over 140,000 $BTC đŞ
⢠Why the move? DRW, led by trading mogul Don Wilson, sees Bitcoin as a core corporate asset and has been in the crypto game for over a decade. Their crypto arm, Cumberland, even scooped up 70,000 BTC from a Silk Road auction, now worth ~$7.7B! đ°
⢠Big players in the mix: Jane Street leads with a $375M stake, making it TMTGâs top backer. Other institutional investors are piling in too.
⢠SEC green light: On June 13, the SEC approved TMTGâs Bitcoin Treasury offering, clearing the way for 56M new shares and 29M convertible notes. This means TMTG can raise the cash while facing ongoing SEC oversight.
⢠Crypto industry push: DRWâs calling for a shake-up at the SEC and CFTC, saying theyâre out of step with global markets.
The $TRUMP coinâs up in the last 24 hours, and with Bitcoin trading at $105K, TMTGâs bold crypto pivot is turning heads. Is this a game-changer or a risky bet? đ¤
đ What do you think about TMTGâs Bitcoin treasury plan? Drop your thoughts below! đ