Trump Media Overtakes Tesla as the 12th Largest Public Bitcoin Holder

Trump Media & Technology Group (DJT) disclosed in its latest SEC 10-Q that it held approximately 14,139 Bitcoin as of July 31, 2026, including all pledged coins. A closer reading of the filing, however, shows that a more accurate measure of the company’s controlled Bitcoin position is roughly 12,062 BTC. That figure is enough to move Trump Media past Tesla’s long-static 11,509 BTC and into the group of the largest public-company Bitcoin treasuries.

Here is the detailed breakdown from the official filing for the quarter ended June 30, 2026, plus the subsequent-events note.

June 30, 2026

• Bitcoin reported in the main “Digital assets” line: 9,477.16 BTC (fair value about $557.1 million). This number already includes 4,260.73 BTC pledged as collateral for the company’s $1 billion 0% convertible senior secured notes due May 2028.

• Separately listed under “Digital assets pledged”: 2,077.34 BTC (fair value about $122.1 million). These coins support the company’s covered options / hedging strategy.

Adding both pools produces total economic exposure of 11,554.50 BTC at quarter-end.

In July the company sold roughly $159.6 million of equity securities tied to Bitcoin-related products and used the proceeds to buy additional Bitcoin. By July 31 it reported approximately 14,139 BTC, including bitcoin pledged.

Why the 2,077 BTC Options Collateral Is Excluded

The two pledged pools are treated differently because of the rights granted to the counterparties.

The 4,260.73 BTC notes collateral remains restricted under the Indenture. The company cannot freely distribute or withdraw those coins until certain conditions are met or the notes mature, but the collateral is still recognized as belonging to Trump Media and is not subject to open-ended rehypothecation in the ordinary course. Those coins are therefore counted.

The options collateral is different. The filing states that the counterparty “can rehypothecate at their sole discretion.” Premiums received in Bitcoin are also held by the counterparty and may be rehypothecated. Related risk-factor language notes that certain arrangements allow liquidation without prior notice if margin requirements are not met. Once coins are posted under those terms, the company no longer has exclusive control. For rankings that aim to measure true, controlled ownership, the 2,077.34 BTC is excluded.

Calculation for July 31:

14,139 (total including pledged) − 2,077 (options collateral) ≈ 12,062 BTC.

(The covered options that required the 2,077 BTC mostly matured in July, so the remaining pledged amount could be lower. Using the last disclosed figure is the conservative approach until a new breakdown is provided.)

Tesla has held a flat 11,509 BTC for years. At approximately 12,062 BTC, Trump Media moves ahead of Tesla. Depending on the exact composition of other public-company and miner treasuries at any given moment, this places DJT around the 11th-largest public holder of Bitcoin.

The distinction between freely rehypothecable collateral and conventional secured-note collateral is material. Coins that a counterparty can use or liquidate at its discretion are not equivalent to coins sitting under the company’s sole control. Applying that filter produces a clearer picture of Trump Media’s actual Bitcoin position than the raw headline totals.

All figures are taken directly from the company’s June 30, 2026 Form 10-Q (Note 4 on digital assets and digital assets pledged, the related convertible-notes collateral discussion, and the subsequent-events disclosure for July 31). Future filings may refine the exact options-collateral balance after the July expirations. Until then, ~12,062 is the most rigorous number that reflects both the company’s ownership claims and the contractual rights of its counterparties.