Trump Media and Technology Group has filed Form S-3 with the Securities and Exchange Commission, registering 85 million securities related to the previously closed $2.444 billion Bitcoin Treasury Department.
The filing also includes universal shelf registration, giving the company the flexibility to issue future additional securities as part of a broader crypto-centric financing strategy.
TMTG takes the next step with its Bitcoin Reserve Strategy
A Form S-3 filing filed June 5th allows existing investors to publicly resell stocks in private placement, reflecting the potential for a conversion of the $1 billion zero-coupon convertible note issued in May.
The company’s disclosures show that approximately $2.32 billion in net revenue has been allocated and the company’s Bitcoin Reserve has been established. At its current price of nearly $101,000 per BTC, this amounts to around 23,000 BTC, placing Trump media on top public holders of assets per volume.
With each company’s statement, the company’s Bitcoin Reserve storage is expected to be split between Anchorage Digital and Crypto.com.
The move coincides with an increase in Trump media’s involvement in the Crypto market, following the recent announcement of new fintech brand Truth.fi and the recent announcement of the proposed Truth Social Bitcoin ETF, which was submitted separately to the SEC. ETF and S-3 filing proceeded within the same week, marking a rapid sequence of cryptographic disclosures from the company.
CEO Devin Nunes said New Capital provides the company with “financial freedom to implement the rest of the strategy” and describes its assets in management of more than $3 billion as the basis for its expansion.
He also highlighted the role of Bitcoin exposure in providing differentiated value to shareholders. Trump Media previously announced the closure of its private placement on May 30, priced 55.8 million shares at $25.72 and issued a $1 billion convertible note on a $34.72 strike.
The dual nature of filing, including both resale registration and the provision of universal shelf, gives the company a wide range of discretion to raise additional funds through stocks or obligations.
Universal Shelf Registration is commonly used by public companies to pre-register unspecified securities that can be issued promptly via market offerings, often by publicly available, depending on capital needs and market opportunities.
Strategies for Bold Bitcoin Strategy
This financial strategy will put Trump Media in the elite class of corporate Bitcoin holders. While the strategy with over 580,000 BTC per recent disclosure remains the largest, Trump Media’s expected allocation goes further than companies such as Tesla, Semler Science, and Japan-based Metaplanet, which are dominated by BTC. The strategic timing of this expansion comes amidst the continued interest in diversifying the finance ministry and institutional participation in digital assets.
This intersection of Bitcoin acquisition strategy and Trump’s political influence has sparked scrutiny of potential regulation and ethical implications. Donald Trump has retained a dominant interest in the company through revocable trust, with critics pointing to Trump’s dual role as both a beneficiary of a media company and the president of the United States.
As the Times noted, these ties could pose challenges for regulators reviewing relevant ETF filings and broader compliance practices, particularly as the SEC maintains discretion on conversion approvals and public lists resulting from private placement.
What’s next?
S-3 filing is subject to SEC reviews. This will determine whether resale and future security issues will proceed in a structured manner. The company has not revealed details of actual Bitcoin purchases or execution, including average admission prices and hedging strategies. It remains unclear whether BTC holdings will be acquired progressively or at once.
Anchorage and Crypto.com have not yet confirmed any final custody arrangements or insurance clauses related to the preparation.
The strategic shift to Trump Media’s crypto-centric model follows a wider trend among public US companies adopting Bitcoin as a balance sheet asset.
The timing of the S-3, coupled with the ETF ambitions and the Truth.fi rollout, is used by Digital Assets as a structural pillar to expand both financial and technical footprints.
For now, the company is being capitalized with revenues and applications, withholding regulatory responses and final enforcement of the BTC reserve plan.
The filing cements Trump’s political brands with the future of Bitcoin from the curiosity of social media spacks, and cements Trump’s media pivot from the curiosity of social media spacks into encrypted corporate vehicles.
It adds fresh regulations and ethical interests. How will the White House, an openly custody, oversee the institution that judges transactions that enrich the company of the same name?