Trump Media Says $400 Million Stock Buyback Plan Will Not Affect Its Bitcoin Reserve Strategy

According to The Block, Trump Media & Technology Group (stock ticker DJT) has announced plans to repurchase $400 million worth of its stock. The company stated that this buyback will not affect its previously announced Bitcoin capital allocation plan, which is supported by $2.3 billion in private placement funding and has been approved by the U.S. Securities and Exchange Commission.

Trump Media operates the Truth Social social platform and the https://t.co/HY2fxWuM9R fintech business. Its Bitcoin allocation funds come from fundraising from approximately 50 institutional investors. The company's latest statement said that it currently has approximately $3.0 billion in funds on its balance sheet and will maintain the flexibility to explore more strategic opportunities.