Trump Media and Technology Group’s (NASDAQ:DJT) Bitcoin (CRYPTO: BTC) investment plan has received approval from the Securities and Exchange Commission, the company said Friday.
What Happened: The firm, majority-owned by President Donald Trump and which operates the Truth Social platform, now has access to approximately $2.3 billion in capital, according to a press release. This funding, sourced from nearly 50 institutional investors, can be utilized to buy Bitcoin whenever required, making it “one of the largest” Bitcoin treasuries
deals for a public company.
Trump Media announced a private offering last month under which it agreed to issue and sell its common stock and principal amount of 0.00% convertible senior secured notes to create a Bitcoin treasury. The Bitcoin purchased would be held on its balance sheet alongside cash and cash equivalents.
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