The U.S. Securities and Exchange Commission (SEC) has approved the registration of Trump Media & Technology Group for a plan to establish a corporate Bitcoin reserve worth $2.3 billion, according to a report from The Block.
This approval is a significant step for the company associated with former U.S. President Donald Trump to initiate a large Bitcoin acquisition strategy.
Trump Media has successfully raised $2.3 billion from around 50 institutional investors through a private placement offering.
Although it has not been specifically disclosed how much of the funds will be allocated for Bitcoin purchases, this move demonstrates the company's commitment to making Bitcoin a long-term corporate reserve asset.
SC: CWID
