Trump Media and Technology Group has announced its intention to buy up to $ 400 million from its own actions up to $ 2.3 billion in the construction of a substantial bitcoin reserve (BTC).
The board of directors has authorized the buyout plan as a demonstration of confidence in the actions of the company and the strategy of future growth, according to the June 23 press release.
The CEO and president of TMTG, Devin Nunes, said:
“With nearly $ 3 billion available in our balance sheet, we are able to provide value to shareholders while pursuing strategic movements such as our Bitcoin treasure plan.”
The buyout program will be carried out on the free market at the discretion of the company.
Trump Media’s shares, which are negotiated under the DJT Ticker, fell 0.1% during the June 23 negotiation session at $ 17.81. The stock has dropped almost 48% since it reached annual heights in January, the company deepened digital assets.
Digital assets are growing
In May, Trump Media announced that he had obtained about $ 2.3 billion specifically to buy Bitcoin, strengthening the wider embrace of the cryptocurrency Trump.
The company has also submitted deposits for two Truth social brand crypto ETF: an investor only in Bitcoin and another separation between Bitcoin and Ethereum (ETH).
The expansion extension of President Donald Trump drew increased attention to Washington, the legislators calling into question the potential risks linked to the collection of campaign funds and conflicts of interest.
Last week, financial disclosure showed that the president earned more than $ 57 million in his blockchain company, World Liberty Financial, a few days before the reports had appeared only the participation of his family in the company had been cut.
Rumors on a portfolio and a social token of truth do not remain resolved after the company denied short -term plans earlier this year. Meanwhile, Bitcoin oscillated almost $ 101,779 on Monday, down almost 6% in the last day.
