The Trump Media and Technology Group (DJT), the parent’s parent of the social media platform Truth Social, is planning a $ 400 million sharing purchase program.
President Donald Trump’s media firm said the purchase will be funded separately and the Bitcoin treasury strategy will not change.
The purchase will be carried out through open market transactions, and the re -purchase of shares will retire the company, Trump Media announced on Monday.
“Since Trump Media now has approximately $ 3 billion in its balance, we have flexibility to take actions like this that supports the strong return of the shareholder, as we continue to explore additional strategic opportunities,” said CEO Devin Nunes.
Recently Trump Media raised more than $ 2 billion From around 50 institutional investors to create a BTC treasury, where crypto.com and anchorage digital will provide caution services.
DJT sharing climbed to more than 3.8% up to $ 18.50 in early trading on Monday following the purchase announcement.
