The Bitcoin market has recently welcomed significant news: Trump Media & Technology Group (TMTG) has received regulatory approval from the U.S. Securities and Exchange Commission (SEC) to access over $2.3 billion in capital, and has explicitly stated that it will use these funds to purchase Bitcoin (BTC). This move not only marks the official entry of a mainstream media company into the cryptocurrency space but has also triggered a global surge in whale accumulation of Bitcoin, indicating that institutional recognition of digital assets is reaching unprecedented heights.
- Trump Media: $2.3 Billion Capital Entry, Actively Building Bitcoin Reserves
According to the latest news, the registration statement of Trump Media & Technology Group has been approved by the SEC, meaning the company will be able to utilize over $2.3 billion in capital. TMTG has made it clear that these funds will be used to purchase Bitcoin, although the specific amount and timing of the purchases have not yet been disclosed. The company stated that it will follow the "best" internal timeline for these transactions.
The group's CEO, Devin Nunes, described the company's development direction as an "active" expansion into the media and fintech sectors. He stated, "We are actively implementing various plans to expand the company's scale, products, and capabilities. By simultaneously enhancing and developing our social media platform, television streaming platform, and fintech brand, and establishing a Bitcoin reserve, our goal is to quickly transform Trump Media into an indispensable company within the ever-expanding customer base of the patriot economy."
TMTG operates the Truth Social platform, the Truth+ streaming service, and is set to launch a cryptocurrency-related fintech venture, Truth.fi, in early 2025. The approval to purchase Bitcoin is another significant development following the company's formal confirmation of raising funds to acquire BTC a few weeks ago. Additionally, according to foreign media reports, TMTG has also applied to list a Bitcoin exchange-traded fund (ETF) on the New York Stock Exchange, intending to compete with existing BTC ETFs such as BlackRock's IBIT, further deepening its footprint in the crypto space.
- Whales Continue to Accumulate: Strategy and Japanese Listed Companies Follow Suit
The entry of Trump Media undoubtedly provides a strong boost to the Bitcoin market. At the same time, the accumulation trend among other whales has also reignited.
On June 15, Michael Saylor, co-founder and executive of Strategy, the largest corporate holder of Bitcoin, once again shared information related to Bitcoin Tracker on the X platform, captioned "Bigger orange dots, better." Typically, he discloses Strategy's Bitcoin accumulation data the day after such announcements, indicating that the listed company may be making another significant purchase of Bitcoin.
Following this, on June 16, Japanese listed company Metaplanet announced that its board of directors had resolved to issue $210 million in zero-interest ordinary bonds to the EVO fund, with all proceeds planned for purchasing Bitcoin. This move by Metaplanet further confirms that an increasing number of listed companies worldwide are incorporating Bitcoin into their balance sheets, viewing it as an important reserve asset and means of value storage.
- Institutional Funds Flowing In, Promising Outlook for the Bitcoin Market
The consecutive accumulation by whales such as Trump Media, Strategy, and Metaplanet paints a clear picture of institutional funds accelerating their entry into the Bitcoin market. The strategic positioning of these companies not only brings substantial liquidity to Bitcoin but also sends a strong signal: Bitcoin, as an emerging global asset, is increasingly recognized for its value and potential by mainstream institutions.
The influx of institutional funds will help enhance the depth and stability of the Bitcoin market, reduce its volatility, and further promote its legitimization within the global financial system. As more listed companies and large institutions incorporate Bitcoin into their investment portfolios, Bitcoin is expected to gradually transition from a fringe asset to a mainstream one, becoming an indispensable part of global asset allocation.
Conclusion:
The approval for Trump Media & Technology Group to utilize $2.3 billion in funds to purchase Bitcoin is undoubtedly a significant milestone in the history of cryptocurrency development. This not only signifies Bitcoin's recognition by a mainstream media company but also reflects the accelerated embrace of digital assets by global institutional funds. As whales continue to accumulate, the consensus on Bitcoin's value will further solidify, and its position as "digital gold" and even a future global reserve asset will become increasingly stable. In the future, we have reason to expect more traditional giants to join this wave of digital assets, collectively pushing Bitcoin toward a broader stage.
Related: Trump Media & Technology Group (TMTG) Bitcoin (BTC) Reserve Registration Approved by SEC "Announced Effective"
Original: “Trump Media Approved to Use $2.3 Billion to Buy Bitcoin: Whale Accumulation Trend Resurfaces”
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