Trump Media "didn't sell, even increased holdings"—this has gone viral today. But the 15,649 BTC listed in the report is as of September 30. The 4,259 BTC pledged to creditors were deposited into https://t.co/M5tvxL9cOC on November 5—36 days after the report’s cutoff date. This quarterly report does not prove those coins are still held. What truly matters is another line in the report: On November 30, convertible note holders may demand cash redemption at face value, up to approximately $1 billion. As of September 30, its cash and short-term investments totaled approximately $393 million. In its quarterly filing submitted to the SEC just hours ago, the company stated: “We may not have sufficient cash or access to financing to satisfy this redemption.” Only 20 days remain. A reported profit of $410 million does not equate to having $1 billion in available cash.
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