Serious question: Is Trump Media & Technology Group really a hedge fund?

It sure seems that way, given the most recent 10-Q filed just after 5 pm on Friday night.

Trump Media, the parent company of social media site Truth Social, announced it had raised nearly $2.4 billion via a private placement and invested about $2 billion of it into Bitcoin and related securities just last month. Those investments were recorded after the quarter’s June 30 end, but were still included in the second quarter release.

Leaving aside that this huge Bitcoin wager made Trump Media one of the largest publicly traded holders of crypto, in the 10-Q were details of the company’s “treasury strategy” along with a copious roster of risk factors that it entails.

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