Trump Media Announces $400M Share Buyback, Preserves Bitcoin Holdings
Trump Media & Technology Group (DJT), the company behind the social media platform Truth Social, has revealed plans for a $400 million stock buyback, signaling confidence in its financial health.
The company emphasized that the repurchase program will be funded separately from its bitcoin treasury strategy, ensuring that its crypto reserves remain untouched. According to Monday’s statement, the buyback will be executed through open market purchases, with repurchased shares permanently retired.
“With nearly $3 billion on our balance sheet, we’re well positioned to undertake initiatives like this that create value for our shareholders, while continuing to explore new strategic opportunities,” said CEO Devin Nunes.
Earlier this year, Trump Media secured over $2 billion from around 50 institutional investors to build a bitcoin treasury. The firm has since partnered with Crypto.com and Anchorage Digital to provide custody for its BTC holdings.
Following news of the buyback, DJT shares climbed 3.8% in early Monday trading, reaching $18.50.
