Trump Media and Technology Group announced plans to buy back up to $ 400 million in its own shares, while the $ 2.3 billion is reserved intact for building a substantial reserve of Bitcoin (BTC).
The Board of Directors has permitted the return plan as a token of trust in the shares and the future growth strategy of the company, according to the declaration of 23 June.
TMTG CEO and chairman Devin Nunes said:
“With almost $ 3 billion available on our balance sheet, we are able to deliver value to shareholders, while strategic movements strategic such as our Bitcoin Treasury plan.”
The return program will be carried out at the open market according to its own discretion.
Trump Media shares, which act under the Ticker DJT, fell by 0.1% to $ 17.81 during the trade session on 23 June. The share has fallen almost 48% since he had reached annual highlights in January, because the company pushed deeper into digital assets.
Push digital assets
In May, Trump Media announced that it had specifically protected around $ 2.3 billion to buy Bitcoin, so that President Trump strengthened the wider embrace of cryptocurrency.
The company has also submitted archiving for two crypto ETFs for two truth: one that invests exclusively in Bitcoin and another split between Bitcoin and Ethereum (ETH).
President Donald Trump’s growing crypto companies have attracted more attention in Washington, where the legislators affect possible risks with regard to campaign funds and conflicts of interest.
Last week, financial disclosures showed that the president earned more than $ 57 million from his blockchain company, World Liberty Financial, days before reports emerged that the interests of his family had been cut into the company.
Rumors about a truth and token the truth remain unsolved after the company had refused plans in the short term earlier this year. In the meantime, Bitcoin floated almost $ 101,779 on Monday, a decrease of almost 6% in the last day.
