Crypto Currents: Strategy buys more bitcoin

TipRanks

Sat, Jun 7, 2025, 6:50 AM 5 min read

As bitcoin, ethereum and other cryptocurrencies get increasing attention from investors, Wall Street and its traditional banks continue to adjust to the shift. Catch up on this week’s top stories highlighting the intersection of these old guard and new school areas of finance with this recap compiled by The Fly.

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STRATEGY BUYS MORE BITCOIN: Strategy (MSTR) announced updates on Monday with respect to its at-the-market offering programs and bitcoin holdings. The company purchased 705 bitcoin during the period of May 26 to June 1 at an aggregate purchase price of $75.1M. Strategy now holds 580,955 bitcoin.

TRUMP MEDIA FILES REGISTRATION STATEMENT FOR BITCOIN ETF: On Thursday, Trump Media and Technology Group (DJT) announced the filing with the U.S. Securities and Exchange Commission of the initial registration statement on Form S-1 for the Truth Social Bitcoin ETF. The ETF will hold bitcoin directly and offer its shares to investors, aiming to reflect bitcoin’s price performance. Crypto.com will act as the ETF’s exclusive bitcoin custodian, prime execution agent and liquidity provider. The launch of the Truth Social Bitcoin ETF is pending effectiveness of the Registration Statement as well as approval of a Form 19b-4 filing with the SEC. Upon launch, the Shares will be listed on NYSE Arca. Yorkville America Digital acts as the sponsor of the ETF.

Additionally on Thursday, Trump Media announced it has filed a registration statement on form S-3 with the U.S. Securities and Exchange Commission related to debt and equity subscription agreements recently entered into with approximately fifty investors that yielded approximately $2.3B in total proceeds. The proceeds will be used for the company’s creation of a bitcoin treasury and for general corporate purposes. In accordance with registration obligations in the previously-disclosed agreements, the Registration Statement seeks to register for resale by the investors approximately 56M shares of equity and 29M shares underlying convertible notes. Additionally, having recently become form S-3 eligible, Trump Media is taking the customary step of including within the Registration Statement a universal shelf.

CEO Devin Nunes said, “These activities will provide the company with the capital, assets, independence, flexibility, and security we need to fulfill our goals of rapid expansion, guaranteeing a wide array of ways to access the capital markets when it’s most advantageous to do so. We’re systematically putting in place all the elements we need to grow the company according to our plans, acquire crown jewel assets, and draw more customers and users into the patriot economy.”