#TrumpBTCTreasury Trump Media and Technology Group (TMTG), the company behind President Donald Trump's Truth Social platform, has made significant strides in its Bitcoin treasury initiative. Here's what's been happening:

SEC Approval: The US Securities and Exchange Commission (SEC) has declared effective TMTG's S-3 registration statement for its $2.3 billion Bitcoin treasury deal. This approval allows the company to proceed with its plans to purchase Bitcoin.

Capital Raise: TMTG closed a $2.44 billion raise to build its Bitcoin treasury, with $2.32 billion allocated for Bitcoin purchases. The funding includes $1.44 billion in common stock sales and $1 billion in convertible notes.

Bitcoin Treasury Strategy: The company's CEO, Devin Nunes, views Bitcoin as an "apex instrument of financial freedom" and plans to hold cryptocurrency as a crucial part of TMTG's assets. This strategy mirrors the approach used by MicroStrategy, which has amassed over $60 billion in Bitcoin.

Expansion Plans: TMTG aims to expand its offerings and capabilities, including launching a spot Bitcoin ETF and developing a crypto-focused financial services platform. The company plans to use the funding to enhance its social media platform, TV streaming platform, and fintech brand.

Growth and Ambitions: Nunes stated that TMTG is "aggressively implementing" its plans to transform into an indispensable company for the expanding customer base of the "Patriot Economy".