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#TrumpBTCTreasury The “treasure chest” of Bitcoin from Trump Media & Technology Group (TMTG)
(why it exists, how much it can buy, and what it means for the market)
1. What was approved?
– On June 13, the SEC declared the TMTG S-3 registration “effective,” allowing the company to complete a plan of $$ 2.3 billion aimed at forming a Bitcoin treasury. 2. – The capital will come from the potential resale of approximately 56 million shares and 29 million convertible notes that have already been subscribed by around 50 institutional investors. 3. – This registration complements the private offering announced on May 27, when TMTG disclosed it had raised $$ 2.5 billion for the same purpose.
2. How many BTC does this represent?
• With Bitcoin near $$ 105k, $$ 2.3 billion would buy about 22,000 BTC. • But the company mentioned using up to $$ 2.5 billion; at current prices, this rises to around 24,000–25,000 BTC. • This amount would place TMTG just behind Marathon Digital (49,179 BTC) and ahead of TwentyOne (37,230 BTC) in the ranking of corporate treasuries — still far from MicroStrategy and its 582,000 BTC.
3. Why do Trump (and Devin Nunes) want Bitcoin on the balance sheet?
Political narrative – They call BTC the “pinnacle instrument of financial freedom,” aligned with the “Patriot Economy” discourse.
Hedge against banks – The board claims that the asset will serve to “protect the company from harassment and discrimination by financial institutions.”
Cash diversification – Instead of leaving billions in dollars yielding little, they bet on potential appreciation in a post-halving cycle.
4. Extra triggers: ETF and heavyweight partners
– On June 5, TMTG filed an S-1 to launch the Truth Social Bitcoin ETF, with custody from Crypto.com. – The project has already attracted sophisticated capital: Jane Street ($$ 375 million) and DRW Investments ($$ 100 million) bought shares to finance the BTC strategy.
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