Trump Media’s Bitcoin Treasury Strategy Remains Firm Despite Stock Buyback
Trump Media and Technology Group has clarified that its recent $400 million stock buyback initiative will not impact its strategy to establish a Bitcoin treasury with over $2 billion. The parent company of Truth Social reaffirmed its commitment to this digital asset strategy alongside the share repurchase program.
Bitcoin Treasury Investment Details
- Initially denied reports of seeking $3 billion for cryptocurrency ventures
- Confirmed $2.5 billion capital allocation specifically for Bitcoin acquisition
- Structured as $2.3 billion private placement offering for Bitcoin investment
Regulatory Progress and ETF Applications
The U.S. Securities and Exchange Commission (SEC), under leadership appointed by former President Trump, approved the registration for this Bitcoin strategy in June. The company has also filed to launch a spot Bitcoin ETF, with Truth Social separately pursuing a dual ETF for Bitcoin and Ether (ETH) trading.
Political and Regulatory Considerations
This development coincides with legislative efforts by California Senator Adam Schiff to limit public officials’ involvement with digital assets. The situation presents potential challenges for Trump Media’s Bitcoin strategy given its association with former President Donald Trump.
