Trump media says $400 million stock buyback plan will not affect his Bitcoin reserve strategy
PANews reported on June 24 that according to The Block, Trump Media & Technology Group (stock code DJT) announced plans to repurchase $400 million worth of shares. The company said that the repurchase will not affect its previously announced Bitcoin fund allocation plan, which is supported by $2.3 billion in private financing and has been approved by the US Securities and Exchange Commission.
Trump Media operates the Truth Social social platform and Truth.Fi financial technology business, and its Bitcoin allocation funds come from fundraising from about 50 institutional investors. The company's latest statement said that it currently has about $3 billion in funds on its balance sheet and will maintain the flexibility to explore more strategic opportunities.
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