$BTC

The SEC approves Trump Media's request, paving the way for more Bitcoin purchases

The U.S. Securities and Exchange Commission (SEC) has approved Trump Media's request, paving the way for the company to use its capital, amounting to approximately $2.3 billion, to purchase Bitcoin or related assets.

While the company has not disclosed the size or timing of its potential investments in Bitcoin, the prospectus confirms that the acquisition will be made as it sees fit, with the possibility of expanding the capital to $12 billion through future stock or debt issuances.

The company's shares trade under the symbol DJT on the Nasdaq, and data indicates that about 84.7 million shares from early investors have become eligible for resale, which is equivalent to half of the publicly traded shares.

The company's strategy indicates the possibility of purchasing securities linked to Bitcoin or selling Bitcoin later to invest in other assets.

This move enhances the financial and technical profile of the Trump group, which also includes the “Truth Social” platform, the “Truth+” streaming service, and the “Truth.fi” brand in the fintech and cryptocurrency space.