Trump Media and Technology Group, a company linked to US President Donald Trump and the operator of the Social Truth Social Network, reported that its board has allowed the company to buy back up to $400 million in its common stock. This measure is part of a strategy to generate returns to shareholders without changing the current financial plan in Bitcoin (BTC).
According to a statement released yesterday, June 23, the repurchase will be funded with available resources, It will not affect funds that were previously destined for investment strategies in Bitcoin.
The company has indicated that the repurchased shares will be withdrawn from the market. Instant, quantity, form of execution It is the government’s discretionunder regulations of the US Securities and Securities Commission (SEC).
Executive Director and President Devin Nunes explained that the decision is supported by current financial solidity. “While the balance is around $30 million, we have the flexibility to carry out these actions, we continue to appreciate new strategic opportunities,” Nunes said in an official statement.
Trump media noted that the business would not affect previous plans to establish a Corporate Treasury Department with Bitcoin, announced at the end of May, as reported by Cryptootics.
On that occasion, the company announced a About $2.5 billion private placement: It said that 1.5 billion yen from issuance of common stock and 10 million people in senior notes that can be converted at a 0% rate, and that these funds are doomed to purchase and custody of Bitcoin.
To designate the entire acquisition, Trump Media You can have over 19,000 BTC at current market priceIt sits among the five companies that have the most Bitcoin in booking. As they pointed out at the time, BTC management will be responsible for crypto.com and the digital platform at Anchorage.
In a statement Monday, the company said it remains likely to buy back its in circulation and convertible bonds, both in open markets and private negotiations, without prior commitment to its implementation.. They point out that these decisions are based on market conditions and other strategic factors.