🏛️ Trump Media’s Bitcoin Treasury

SEC approval: On June 13, 2025, the SEC declared effective Trump Media & Technology Group’s S‑3 registration, enabling a $2.3 billion capital raise—$1.5 billion in equity and $800 million in convertible debt—to create a Bitcoin treasury on its balance sheet .

Scale & structure: The deal involves 56 million equity shares plus 29 million convertible‑note‑linked shares, backed by about 50 institutional investors .

Custody & strategy: Funds will be held by Crypto.com and Anchorage Digital, with Trump Media aligning with the broader corporate trend following MicroStrategy’s BTC strategy .

Market reaction: Despite the bold move, Trump Media stock dipped ~2‑9% following announcements—likely due to dilution and cost concerns .

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🇺🇸 U.S. Government’s Strategic Bitcoin Reserve

Executive Order (Mar 6, 2025): President Trump signed an order to create a Strategic Bitcoin Reserve (funded by forfeited government BTC) and a broader Digital Asset Stockpile, with the U.S. holding around 200,000 BTC (~$20 billion) .

Non‑sale policy: The Reserve is meant to be held long‑term, with no planned sales, using dollar‑cost averaging reinvestment strategies .

Reactions: The move is seen as symbolic and precedent‑setting—framing BTC as a strategic asset—even as some warn of volatility risks .

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🔍 Context & Broader Trends

Corporate Bitcoin treasuries: Trump Media joins firms like MicroStrategy, GameStop, and SharpLink in adding BTC to their balance sheets .

Trump’s crypto pivot: Once a critic, Trump has embraced crypto—launching a $TRUMP memecoin, hosting memecoin investor events, and now establishing both corporate and federal treasuries .