Trump Media bought 4,359 Bitcoin before Trump's crypto warning

Trump Media & Technology Group (DJT) on Monday revealed it had purchased 4,359 Bitcoin (BTC) during the preceding quarter. The disclosure landed 10 days after President Trump described digital money as “a little bit dangerous.”

The vast majority of the coins are inaccessible. As of September 30, the Truth Social parent held 15,649 Bitcoin, of which roughly three were not serving as collateral, with $1 billion in debt approaching a cash repayment deadline.

What Share of Trump Media’s 15,649 Bitcoin Is Not Pledged?

CFO Phillip Juhan stated during Monday’s earnings call that the acquisitions were funded by the sale of BlackRock’s iShares Bitcoin Trust, a vehicle that follows the coin’s price.

The buys took place before Trump’s remarks. His crypto comments arrived on October 30, a day after hackers drained roughly $6.3 billion from crypto exchange Binance.

“You know, the old-fashioned way when you used to sign a check… These are different. People never see the money anymore. So I’ve always felt it was a little bit dangerous,” he said.

Trump Media’s quarterly filing details 11,385.20 Bitcoin allocated to an options program, a hedging arrangement where the counterparty can on-lend the coins at its discretion.

A further 4,260.73 Bitcoin supports the firm’s 0% convertible notes, debt instruments convertible into equity. These tokens remain locked until the loan terms are satisfied or May 2028. Last week, a 4,259 Bitcoin transfer to Crypto.com closely echoed that commitment.

The filing cautions that certain counterparties may sell pledged Bitcoin without prior notice in the event of missed margin calls. The cryptocurrency currently changes hands near $73,405, roughly 12% beneath its September 30 valuation of approximately $83,500.

Will Trump Media Retain Its Bitcoin After November 30?

The holders of the $1 billion note issue possess the right to demand full cash settlement on November 30. General Counsel Scott Glabe stated that the final amount will remain unclear until the end of the month.

The company held roughly $393 million in cash and short-term investments as of September 30. Interim CEO Kevin McGurn indicated the firm will settle the debt using cash and credit lines, not by issuing new equity.

“We want to preserve as much of our Bitcoin as possible to continue our yielding strategy and allow that asset to recover,” McGurn stated during the earnings call.

The regulatory document cautions that refinancing might not be attainable on favorable terms.

The $409.7 million third-quarter profit valued the coins at their September 30 prices. The noteholders’ decision, expected within three weeks, will determine if the Bitcoin holdings endure their initial liquidity challenge.