Trump Media Says $400M Share Buyback Won’t Affect Bitcoin Treasury Plans
Trump Media and Technology Group announced a $400 million share buyback program, which will not affect its plans to establish a Bitcoin treasury. The company confirmed a $2.5 billion capital funding for Bitcoin investment, with a private placement offering of approximately $2.3 billion. The SEC approved the registration statement for this Bitcoin deal in June, sourced from the resale of shares tied to debt and equity agreements. Trump Media has also applied to launch a spot Bitcoin ETF and filed to list a dual ETF for Bitcoin and Ether. Trump proposed a “Strategic Bitcoin Reserve” through an executive order, aiming to hold digital assets forfeited to the government. Lawmakers accused him of using his position to benefit cryptocurrency firms. Concurrently, legislation was introduced to prevent public officials from endorsing digital assets, potentially impacting Trump Media's Bitcoin strategy.
