SEC approves Trump Media application to create Bitcoin reserve
Trump Media gets SEC approval for $2.3 billion Bitcoin treasury plan
Trump Media and Technology Group (TMTG), the parent company of Truth Social and partially owned by U.S. President Donald Trump, has received regulatory approval from the Securities and Exchange Commission (SEC) for a major Bitcoin treasury move.
According to a June 13 filing, the SEC declared TMTG’s Form S-3 registration statement effective, enabling the company to proceed with its $2.3 billion Bitcoin acquisition, reports Cointelegraph.
The registration includes the resale of nearly 56 million shares and 29 million more associated with convertible notes issued to around 50 investors.
TMTG positions Bitcoin as a strategic reserve asset
While the registration grants TMTG broad authority to issue securities in the future, company executives have emphasized that there are “no immediate plans” to activate the shelf offering. Instead, the immediate focus lies on executing its Bitcoin treasury strategy.
CEO Devin Nunes described the move as central to the company’s transformation, saying, “We aim to rapidly transform Trump Media into an indispensable company for the expanding customer base of the Patriot Economy.” The firm sees Bitcoin not just as an investment, but as “an apex instrument of financial freedom,” with its new holdings reinforcing the company’s growing fintech ambitions.
Bitcoin ETF and media-fintech fusion on the horizon
TMTG’s Bitcoin acquisition comes alongside other aggressive growth plans. Just days prior, the firm filed with the SEC to launch a spot Bitcoin ETF, with the fund structured to mirror BTC price performance through custodial holdings. These developments follow a $2.5 billion capital raise finalized in late May, initially met with skepticism but later confirmed by Nunes. Despite a modest 2% dip in its share price after the news, the company’s dual-track strategy — expanding media and financial infrastructure — signals a deeper alignment with pro-crypto, anti-establishment investors ahead of the 2024 U.S. election cycle.
Recently we wrote that Brazil is on the brink of a monumental shift in global financial policy, as Bill PL 4501/2024—which would allow the allocation of up to 5% of Brazil’s $370 billion international reserves into Bitcoin—advances through the Chamber of Deputies.
