#TrumpBTCTreasury Trump Media and Technology Group (TMTG), the company behind President Donald Trump's Truth Social platform, has received approval from the US Securities and Exchange Commission (SEC) for its $2.3 billion Bitcoin treasury deal. This move allows TMTG to establish a significant Bitcoin treasury, joining a growing list of publicly traded companies adopting this strategy ¹.
*Key Details:*
- *Bitcoin Treasury Deal*: TMTG's SEC-approved registration statement enables the company to register the resale of approximately 56 million shares and 29 million shares tied to convertible notes, yielding $2.3 billion for Bitcoin purchases.
- *Company Expansion*: TMTG's CEO, Devin Nunes, stated that the company is "aggressively implementing plans to expand" its offerings, including social media, TV streaming, and fintech capabilities, while establishing a Bitcoin treasury.
- *Spot Bitcoin ETF*: TMTG has also filed with the SEC to launch a spot Bitcoin exchange-traded fund for a Bitcoin ETF, which would track the performance of Bitcoin's price ¹ ².
*Impact:*
- *Institutional Adoption*: The approval of Trump Media's Bitcoin treasury bid is seen as a positive sign for the cryptocurrency sector, potentially attracting more institutional investors to hedge against inflation.
- *Market Trends*: The growing demand for Bitcoin is expected to further stress the supply-demand imbalance, potentially leading to a parabolic price increase before the end of the year ³.