Trump Media’s recently announced $400-million buyback plan will not alter its strategy of using $2.3 billion to invest in Bitcoin, according to the company.
Trump Media and Technology Group, the company that owns the Truth Social platform, said its $400-million share buyback program will not affect its plans to create a Bitcoin treasury.
In a Monday notice, US President Donald Trump’s media company said its board of directors had authorized the repurchase of up to $400 million in common stock. The stock buyback does not impact the company’s strategy to establish a Bitcoin (BTC) treasury using more than $2 billion in funds, it said.
The media group initially denied reports that it was planning to raise roughly $3 billion to invest in cryptocurrency, but later confirmed a $2.5-billion capital funding to purchase Bitcoin. According to the Monday notice, Trump Media’s Bitcoin strategy “featured a private placement offering of approximately $2.3 billion in the aggregate.”
