When Bitcoin price surges above 120,000 USD again, MicroStrategy and Trump Media are preparing for large investments. The media company of the President has modified the Bitcoin ETF registration in its latest filing with SEC.
For its part, MicroStrategy made a relatively small purchase last week. However, this came after a large investment the previous week, and the company remains committed to continuously growing its reserves.
Trump Media's Bitcoin Strategy and Plan
Since President Trump allowed cryptocurrency investment in retirement portfolios, Bitcoin has exploded. There has been a global trend of companies buying BTC, but current consumption is even more encouraged.
Following this trend, Strategy (formerly MicroStrategy) and Trump Media have made serious moves to increase their holdings:
Strategy reported impressive profits in the previous quarter, and the company's Chairman, Michael Saylor, has encouraged investing in altcoins. Compared to the large purchase the previous week, the company's 18 million USD commitment seems smaller.
It still represents steady progress, but Trump Media is likely creating a larger impact than Strategy with its announcement.
"Trump Media today announced filing with (SEC) the first amendment to the registration statement on Form S-1 (Registration Statement) for Truth Social Bitcoin ETF. This ETF will directly hold bitcoin and provide shares to investors, aiming to reflect Bitcoin's price performance," a recent press release stated.
Truth Social ETF: A New Demand Surge?
When Bitcoin ETFs first appeared over a year ago, they revolutionized the cryptocurrency market. The President's business empire is now strongly integrating with cryptocurrencies, and his companies have recently launched an ETF strategy.
This includes a dual BTC/ETH product and a five-token basket ETF, but the Truth Social Bitcoin ETF is currently receiving the most attention.
Moreover, some filings have encountered regulatory obstacles in recent weeks, while Bitcoin ETFs are a well-established market. To better prepare for future release, Trump Media has become the sixth-largest private BTC holder, but still has a long way to go to surpass Strategy.
Bitcoin Holdings of Strategy and Trump. Source: bitcointreasuries.netPresident Trump has had a significant influence on cryptocurrencies, but a Trump-branded ETF could initiate large capital flows. Of course, the company can only sell as many ETFs as the underlying assets it has, so Trump Media will need to continue buying more.
Trump is setting standards for many 'firsts' for a sitting president. This is unprecedented in any previous term when a president's private business directly files for an ETF, let alone having cryptocurrency exposure.
However, with the current wave of cryptocurrency-supportive regulations, such funds may receive approval more easily.
In the short term, Trump Media may continue buying Bitcoin as quickly as Strategy. This demand is likely to affect BTC price.
