Market News

Trump Media Seeks SEC Approval to Raise $12 Billion for Bitcoin Strategy

Trump Media & Technology Group Corp. has filed a significant Form S-3 registration statement with the U.S. Securities and Exchange Commission (SEC) to raise up to $12 billion for its bitcoin reserve initiatives.

This bold move signals a strategic shift towards expanding its cryptocurrency investments, positioning the company to harness the growing influence of Bitcoin in the financial landscape.

The company's plan includes registering a diverse array of securities, such as common stock and debt instruments, providing ample flexibility for future fundraising opportunities.

Proceeds from a recent $2.3 billion financing deal with around 50 investors will initially help create the corporate bitcoin reserve and sustain general operations.

As part of its filing, Trump Media is also registering about 84.7 million shares of common stock, which will support its expansion and eventual bitcoin acquisitions.

While the company has not specified when it will issue additional securities from the $12 billion shelf, it asserts that this framework will facilitate swift responses to market opportunities.

The firm’s long-term vision for a bitcoin treasury underlines its commitment to integrating cryptocurrency into its portfolio.

CEO Devin Nunes emphasizes that this registration is critical for funding rapid expansion and ensuring operational independence.

Despite potential litigation risks and market volatility, Trump Media aims to be a frontrunner in the public sector leveraging Bitcoin as a financial instrument.

Additionally, the company is pursuing SEC approval for a Bitcoin ETF tied to its social media platform, Truth Social, further solidifying its crypto-centric approach.