#TrumpBTCTreasury
Trump Media & Technology Group (TMTG), the company behind President Donald Trump's Truth Social platform, has received approval from the US Securities and Exchange Commission (SEC) for its $2.3 billion Bitcoin treasury deal. Here's what you need to know ¹:
Key Details
- *SEC Approval*: The SEC declared TMTG's S-3 registration statement effective on June 13, allowing the company to proceed with its Bitcoin treasury plan.
- *Bitcoin Investment*: TMTG plans to use the $2.3 billion to invest in Bitcoin, viewing it as "an apex instrument of financial freedom".
- *Company Expansion*: CEO Devin Nunes stated that the company is "aggressively implementing plans to expand" and aims to transform Trump Media into an "indispensable company" for the "Patriot Economy".
Additional Developments
- *Bitcoin ETF Filing*: TMTG has also filed with the SEC to launch a spot Bitcoin exchange-traded fund (ETF), which would provide investors with regulated access to Bitcoin's price performance.
- *Custody Partners*: (link unavailable) and Anchorage Digital will provide custody services for Trump Media's Bitcoin treasury.
Impact on TMTG
- *Stock Price*: Despite the positive news, TMTG's stock price fell 2.06% on June 13, closing at $19.52.
- *Growth Strategy*: The company's Bitcoin treasury deal is part of its broader strategy to grow its media, fintech, and Bitcoin holding.
