Trump Media becomes a Bitcoin Whale

Trump Media and Technology Group (TMTG) announced that it would buy back $400 million worth of shares and warrants to support the price of DJT stock, which has been falling for several weeks.

However, the CEO of TMTG clarified that despite this transaction, the company’s new strategy regarding Bitcoin purchases would not change and that everything was going according to plan.

Strategy

As a reminder, the group has raised $2.3 billion from institutional investors to buy Bitcoin, and the SEC okayed that plan a few days ago.

Devin Nunes also stated that the group could buy back convertible bonds “depending on market opportunities”.

Finally, he reiterated that the group has several other projects underway and will continue to explore other strategic opportunities. Trump Media and Technology Group therefore decided to support its own stock price by buying back $400 million worth of shares and warrants, but this will not change its Bitcoin strategy.

The group should soon start buying new Bitcoins with the money raised from institutional investors, thus keeping Trump’s promise to be a true crypto president. The stock price doubled in 2024, and shot higher when Trump won the US presidential election in November 2024. However, by the close of last week, the price had fallen by almost 48% this year alone.