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Trump Media Technology Group: $400 million stock buyback will not affect the establishment of a Bitcoin asset reserve plan.
On June 24, according to Cointelegraph, Trump Media Technology Group, which owns the Truth Social platform, stated that its $400 million stock buyback plan would not affect its plans to establish a Bitcoin asset reserve. The media company founded by U.S. President Donald Trump announced on Monday that its board has authorized the buyback of up to $400 million of common stock. The company stated that this buyback will not affect its strategy of using over $2 billion in funds to establish a Bitcoin reserve. According to the announcement, Trump Media Technology Group’s Bitcoin strategy “includes a private sale financing totaling approximately $2.3 billion.”