Bitcoin News Today: Trump Media Holds $2 Billion in Bitcoin After SEC Approval

Trump Media and Technology Group has disclosed that it now holds $2 billion in Bitcoin and related assets, representing a significant portion of its liquid assets. This substantial investment follows the approval by the Securities and Exchange Commission (SEC) on June 13 for a $2.3 billion crypto treasury plan. The company's strategic move is part of a broader initiative to safeguard its financial independence and support future revenue generation, potentially expanding into other digital assets.

The allocation includes $300 million set aside for acquiring Bitcoin options, which the company may convert to Bitcoin depending on market conditions. This move underscores Trump Media's commitment to integrating cryptocurrency into its financial strategy. The company operates Truth Social, a social media platform promoting free speech, and Truth+, a streaming service. Additionally, it is preparing to launch Truth.Fi, a fintech and financial services platform focused on "America First" investment strategies.

The SEC's approval on June 13, following the filing of an S-3 form on June 6, allowed Trump Media to register the resale of shares to fund its digital asset strategy. The company raised $2.3 billion from 50 investors through the sale of 56 million equity shares and 29 million convertible notes. This approval not only authorized the creation of one of the largest Bitcoin treasuries held by a public company but also provided flexibility for additional strategies.

In addition to its treasury holdings, Trump Media filed an application with the SEC on June 5 for a spot Bitcoin ETF. The proposed Truth Social Bitcoin ETF would use Crypto.com as custodian, furthering the company's push into digital finance. This ETF is part of a broader initiative that includes the upcoming Truth.Fi fintech platform, highlighting Trump Media's comprehensive approach to digital asset integration.

Trump Media's digital asset holdings are expected to create synergies with Truth Social's upcoming token, although the company has not provided a specific timeline for its launch. The integration of cryptocurrency across its brands underscores the company's commitment to leveraging digital assets for future growth and financial stability.