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Trump Media Technology Group has been approved to use $2.3 billion in funds to purchase Bitcoin.
Gate News bot message, Trump Media & Technology Group has received regulatory approval from the SEC, and after its registration statement is approved, it will invest over $2.3 billion in capital. This will enable it to immediately purchase Bitcoin.
The company refused to disclose how many Bitcoins it intends to acquire and when, stating in the documents that the acquisition will follow an internal timetable deemed “best.”
The document also registered 56 million shares of stock pending resale, as well as 29 million shares linked to convertible bonds issued as part of the company’s financing structure. The statement also mentioned that a general reserve would be established for the issuance of up to $12 billion in securities, but the company stated that there are currently no plans to utilize this reserve.
Source: Crypto News Australia