#TrumpBTCTreasury
On June 13, 2025, the U.S. SEC declared Trump Media & Technology Group’s (TMTG) Form S‑3 registration effective—greenlighting a $2.3 billion capital raise (≈56 million shares + 29 million convertible notes) to establish a Bitcoin treasury .
TMTG plans to hold these BTC reserves alongside $759 million in cash and short-term investments .
Custody for the Bitcoin will be managed via Crypto.com and Anchorage Digital .
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💸 Strategic and Financial Context
Trump Media closed the round on May 30, earning $1.44 billion from equity and $1 billion from convertible debt—netting about $2.32 billion for the BTC treasury .
This move mirrors a growing corporate trend—such as MicroStrategy and GameStop—where about $11.3 billion has flowed into crypto treasuries since April 2025 .
DRW Investments' founder Don Wilson also contributed $100 million to the fundraising round .
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🔐 Policy & Regulatory Backdrop
In March 2025, President Trump signed an executive order establishing a Strategic Bitcoin Reserve and a broader U.S. Digital Asset Stockpile, funded initially via forfeited BTC (~200,000 BTC) .
His administration has since relaxed crypto enforcement, dismissed cases against major firms (Coinbase, Kraken), appointed pro-crypto regulators, and hosted a White House crypto summit .
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🌐 Implications & Market Reaction
Factor Insight
Investor response Despite approval, TMTG shares dipped ~2–9%—reflecting investor skepticism over volatility and dilution .
Market ripple Trump’s active crypto moves contribute to a broader institutional momentum—but also amplify warnings about overexposure and risk .
Ethical concerns Trump’s direct crypto stake and regulatory influence fuel debates over conflicts of interest .
