Trump Media & Technology Group (DJT, owner of Truth Social) said Monday that it bought 4,359 bitcoins last quarter. Interestingly, the news comes just 10 days after President Trump called digital money a little dangerous.
As of September 30, their total holdings were 15,649 bitcoins. Of these, only about 3 were free the rest were tied up as collateral.
11,385.20 bitcoins pledged in an option/hedging program (partners can rehypothecate and lend to others if they want).
And 4,260.73 bitcoins are held as backup for 0% convertible notes ( locked until May 2028 or until conditions are met ).
The purchase money came from selling shares of BlackRock’s iShares Bitcoin Trust (IBIT). The purchase was made before Trump comments. Trump comments came on October 30, the day after the Binance hack of about $6.3 billion.
Now there’s another pressure:- Holders of the $1 billion note could ask for a full refund in cash on Nov. 30. The company had about $393 million in cash + short-term investments on Sept. 30. They say they’ll give cash and credit, not issue new shares - so they can keep as much bitcoin as possible and pursue a yield strategy.
Bitcoin is now around $73,405 (down about 12% from ~83,500 at the end of September). The digital asset made up the bulk of the quarter’s profits.
Overall, there’s a big stack, but very few usable coins. The Nov. 30 deadline will show how much it can hold.
