#TrumpBTCTreasury Trump Media and Technology Group announced on Friday that the U.S. Securities and Exchange Commission has declared the registration of its bitcoin treasury deal effective.

The company stated that it raised approximately $2.3 billion through a combination of debt and equity deals involving around 50 investors.

In May, it was reported that bitcoin will be held on Trump Media's balance sheet alongside existing cash and short-term investments totaling $759 million as of the end of the first quarter.

The bitcoin treasury is part of Trump Media's aggressive expansion strategy.

CEO and President of Trump Media Devin Nunes stated that the company is "aggressively" expanding with the aim of transforming Trump Media into an indispensable company for its growing customer base.