Trump Media and Technology Group (DJT), the parent company of the Truth Social Social Network Platform, is planning a shares of shares of $ 400 million.
President Donald Trump’s media firm said the repurchase would be financed separately and not alter its Bitcoin Treasury strategy.
The repurchase will be carried out through open market transactions, and the repurchase shares will be removed by the company, Trump Media announced Monday.
“Since Trump Media now has approximately $ 3 billion in its general balance, we have the flexibility of taking measures such as this that support strong returns from shareholders, as we continue to explore new strategic opportunities,” said CEO Devin Nunes.
Trump Media recently raised more than $ 2 billion around 50 institutional investors to create a BTC Treasury, for which Crypto.com and Anchorage Digital will provide custody services.
DJT shares rose more than 3.8% to $ 18.50 in the first operations on Monday after the repurchase announcement.
