President Trump’s media company has been given the green light by the U.S. Securities and Exchange Commission (SEC) to invest its treasury holdings in Bitcoin (BTC).
In a press release, Trump Media says its previous registration filing with the SEC has been declared effective by the regulator on June 13th, allowing the company to move forward with a prospectus.
Trump Media previously filed with the SEC to adopt a Bitcoin treasury because it views BTC as an “apex instrument of financial freedom.”
Devin Nunes, Trump Media’s CEO and President, said that investing in BTC would “help defend our Company against harassment and discrimination by financial institutions, which plague many Americans and US firms.”
A BTC treasury would also be useful for subscription payments, a utility token and other planned transactions across the company’s subsidiaries – Truth Social and Truth+ – according to Nunes.
Says Nunes,
“We’re aggressively implementing our plans to expand the Company, our offerings, and our capabilities. By simultaneously enhancing and growing our social media platform, TV streaming platform, and our FinTech brand while establishing a Bitcoin treasury, we aim to continue rapidly transforming Trump Media into an indispensable company for the expanding customer base of the Patriot Economy.”
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