Trump Media increases its BTC holdings: where did the money to buy the coins come from?
At the end of July, Trump Media held about 14,139 BTC. By the end of September, its holdings had grown to about 15,649 BTC. The 1,510 BTC figure trending online is the difference between the holdings at those two points in time. (sec.gov, sec.gov)
On the earnings call, the CFO disclosed that the company bought about 4,359 BTC in the third quarter, using proceeds from selling some of its shares in BlackRock’s spot Bitcoin ETF (IBIT) to fund the purchases. As of the end of September, about 11,385 BTC had been pledged as collateral for its yield management program. (sec.gov)
Selling part of its ETF holdings to buy spot BTC is essentially a shift from indirect exposure to direct ownership. When I see the holdings figure grow, I also wonder: if the company suddenly needs cash, how much of its BTC can it access right away?
When you read the financial reports of companies that hold BTC, do you look first at the total amount of BTC they hold, or at how much has already been pledged as collateral?
#特朗普媒体Q3增持1510枚比特币 $BTC $DJT
At the end of July, Trump Media held about 14,139 BTC. By the end of September, its holdings had grown to about 15,649 BTC. The 1,510 BTC figure trending online is the difference between the holdings at those two points in time. (sec.gov, sec.gov)
On the earnings call, the CFO disclosed that the company bought about 4,359 BTC in the third quarter, using proceeds from selling some of its shares in BlackRock’s spot Bitcoin ETF (IBIT) to fund the purchases. As of the end of September, about 11,385 BTC had been pledged as collateral for its yield management program. (sec.gov)
Selling part of its ETF holdings to buy spot BTC is essentially a shift from indirect exposure to direct ownership. When I see the holdings figure grow, I also wonder: if the company suddenly needs cash, how much of its BTC can it access right away?
When you read the financial reports of companies that hold BTC, do you look first at the total amount of BTC they hold, or at how much has already been pledged as collateral?
#特朗普媒体Q3增持1510枚比特币 $BTC $DJT
