The SEC approved the registration of the Trump Media & Technology Group's plan to create a Bitcoin reserve of $2.3 billion, raised from about 50 institutional investors. The green light from the regulator means that the company can now use the funds to purchase BTC at any time.

The prospectus of Trump Media states that the volumes and timing of acquisitions will be determined at the discretion of the management. The funds may also be directed towards general corporate needs.

Additionally, the company has received the right to issue additional shares and debt securities up to $12 billion without further shareholder approval. On the Nasdaq exchange, under the ticker DJT, up to 84.7 million shares of early investors can now be traded, which represents almost half of the free float and 30% of all shares outstanding.

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