Trump Media Pledged 11,385 Bitcoin. Could a $1 Billion Note Demand Force It to Sell?
The company said the coins secure covered options and debt, while a full cash demand could force it to sell or transfer Bitcoin.
- Trump Media & Technology Group disclosed in its third-quarter 10-Q filed Monday that it holds approximately 15,649 BTC, including 11,385 BTC pledged to an options strategy and 4,264 BTC unpledged.
- Facing a November 30 deadline, the firm carries $1 billion in convertible senior secured notes due May 29, 2028, giving noteholders the right to demand cash redemption at 100% of principal.
- The company reported $409.7 million in third-quarter net income, reversing a $54.8 million loss from last year; most profit stemmed from $496.1 million in non-cash gains while quarterly revenue reached $3 million.
- Wallets tagged "2028 Convertible Notes Collateral" recently sent 4,259 BTC to Crypto.com, according to Arkham; the transfer could indicate a sale or simply reflect a custody change at the dual-service platform.
- Trump Media is pursuing a merger with fusion company TAE Technologies, with shareholders voting December 14, while CEO Kevin McGurn said the balance sheet provides "more disciplined, institutional management" of its cryptocurrency treasury.
14 Articles
14 Articles
Trump Media Pledged 11,385 Bitcoin. Could a $1 Billion Note Demand Force It to Sell?
A $1 billion cash option hits Trump Media's lenders on November 30, and thousands of its Bitcoin sit locked as collateral. The filing stays silent on how it will pay, but one clue could reveal what happens next.
Trump Media Expands Bitcoin Holdings to 15,649 BTC Despite Market Slump
TL;DR Trump Media increased its Bitcoin treasury by a net 1,510 BTC during the third quarter, reaching 15,649 BTC. The company reported $1.31 billion in Bitcoin holdings at September 30, although the position’s estimated value declined to approximately $1.17 billion by November 10. Its Bitcoin strategy includes institutional options agreements designed to generate additional income, ...
Trump Media reported adding 1,510 BTC net in the third quarter, as Bitcoin approaches a mobile average that an analyst compares to his 2023 recovery.
Trump Media Pledges 73% Of Its Bitcoin To Options Program
Trump Media & Technology Group has pledged about 73% of its bitcoin to an options program in which the counterparty can reuse the coins, the company disclosed in its third-quarter 10-Q filed Monday, three weeks before holders of its $1 billion in convertible notes can demand cash. The Truth Social parent held approximately 15,649 BTC on Sept. 30, Chief Financial Officer Phillip Juhan said on Monday’s earnings call, along with 7 million shares of…
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