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The U.S. Securities and Exchange Commission (SEC) has approved a filing from Trump Media & Technology Group (TMTG) related to its cryptocurrency reserve plan. This approval allows the company, largely owned by former President Donald Trump and operator of the Truth Social platform, to utilize approximately $2.3 billion of institutional investor funds for acquiring Bitcoin (BTC) 
$105,469. However, TMTG has not specified when and how much Bitcoin will be purchased, only noting that they will proceed “at times and amounts as deemed appropriate.” Additionally, the company has enabled a “universal shelf” registration, potentially allowing them to raise up to $12 billion through equity, debt securities, or financial rights issuance in the future.
Bitcoin Acquisition Details
TMTG emphasized the flexibility of its Bitcoin purchasing strategy in its prospectus. Besides Bitcoin acquisitions, the company may also invest in Bitcoin-related securities. Depending on market conditions, TMTG may sell acquired Bitcoin and reinvest the proceeds into cash, cash equivalents, or other interest-bearing investments.
Additionally, TMTG’s financial maneuverability has significantly increased following the SEC’s activation of the “universal shelf” registration. This provides TMTG the capability to secure additional financing of up to $12 billion quickly when necessary. However, the company stated in a press release that “there are currently no plans to issue any securities under the shelf registration,” suggesting this move is more of a preparatory measure for potential future requirements.
Market Dynamics After Public Listing and Company Structure
Another significant outcome of the SEC’s approval is that it has registered approximately 84.7 million shares held by TMTG’s early investors for resale. This block represents about half of the company’s publicly available shares and approximately 30% of the total issued shares. This situation allows for the potential sale of this large share block in the market, which could impact the share price of the company traded on the Nasdaq exchange under the ticker DJT.
TMTG’s operations aren’t limited to the Truth Social media platform alone. The company also manages a streaming service called Truth+. In January, it launched Truth.fi, a fintech brand with cryptocurrency goals. TMTG describes Truth.fi as a “financial services and FinTech brand featuring America First investment vehicles.”
