Trump Media Unveils $400M Share Buyback, Keeps Bitcoin Holdings Intact
Trump Media & Technology Group (DJT), the company behind Truth Social, has announced a $400 million share repurchase program, signaling confidence in its financial position while confirming that its bitcoin holdings will remain untouched.
In a statement released Monday, the company said the buyback will be executed through open market purchases, with shares to be permanently retired. Importantly, Trump Media clarified that the repurchase will be financed independently of its bitcoin treasury strategy.
“We have nearly $3 billion on the balance sheet, which allows us to take bold steps like this while continuing to evaluate strategic opportunities,” said CEO Devin Nunes.
Earlier this year, the company raised over $2 billion from roughly 50 institutional investors as part of its bitcoin treasury initiative. It has since selected Crypto.com and Anchorage Digital as custodians for its BTC reserves.
Following the announcement, DJT shares climbed over 3.8% in early trading Monday, rising to $18.50.
About The Author
More Stories
Bitcoin reclaims $81,000 after stronger-than-expected CPI data, as BNB and DOGE outperform major cryptocurrencies
For the first time since March 2023, Bitcoin’s bull-bear cycle gauge has turned green.
GameStop’s $56 billion bid is rejected by eBay, shifting attention back to the company’s bitcoin holdings.