US SEC Approves Trump Media’s Plan to Buy BTC Wort

The US Securities and Exchange Commission (SEC) has approved Trump Media’s Treasury registration, setting the firm on course to start buying Bitcoin.

The Trump Media and Technology Group (TMTG) disclosed this development in a press release on June 13, moving a step closer to resuming its Bitcoin accrual journey. The firm received a positive response from the US SEC after filing over a week earlier to start a $2.3 billion Bitcoin Treasury.

Trump Media a Step Away from Buying Bitcoin

Notably, the development followed a broader effort by public firms globally to establish a Bitcoin Treasury, as seen in the case of Trump Media, the operator of Truth Social and Truth.Fi, keyed into this growing obsession to hold Bitcoin on June 6.

On the said date, it filed an S-3 form with the US SEC to register the sale of its shares to eligible investors to buy Bitcoin. For the uninitiated, public companies use the filing to disclose their intentions to sell securities, such as stocks and shares.

Meanwhile, Trump Media had raised $2.3 billion from 50 investors through the resale of 56 million shares of equity and 29 million shares of convertible notes. The Friday filing from the US SEC has declared the venture effective, approving Trump Media’s ploy to establish one of the largest Bitcoin Treasuries by a publicly traded company.

Interestingly, the approval was not just for the $2.3 billion; it gave Trump Media a discretionary flexibility to pursue other means of growing its Bitcoin treasury strategy. Nonetheless, the company does not plan to issue securities under this shelf registration statement in the meantime.

Trump Media disclosed that it filed a corresponding final prospectus with the US SEC on the same day.