In mid‑June 2025, Trump Media & Technology Group (TMTG), the company behind Truth Social, had its Form S‑3 registration declared effective by the U.S. Securities and Exchange Commission on June 13. This move formally authorizes TMTG to complete a previously announced $2.3 billion capital raise—comprising roughly 56 million equity shares and 29 million convertible notes—from about 50 institutional investors. The funds are earmarked to create a substantial Bitcoin treasury, to be held alongside the company’s existing $759 million in cash and short‑term investments .
TMTG’s CEO Devin Nunes described this as part of an “aggressive” expansion into fintech, streaming, and “Patriot Economy” initiatives, suggesting that holding Bitcoin will protect the company from potential banking discrimination and bolster synergies across Truth Social and its planned Truth Fi platform .
The filing also revealed plans for a Truth Social Bitcoin ETF, with Crypto.com and Anchorage Digital set to custody the assets . TMTG joins other public firms like MicroStrategy and GameStop in the growing trend of corporate Bitcoin treasuries . While such strategies may attract short‑term investor enthusiasm, critics caution that heavy exposure to volatile crypto assets could add significant financial risk .
