- Trump media plans a $400M stock buyback but says it won’t affect its $2.3B Bitcoin treasury strategy.
- The SEC approved the Bitcoin investment, funded by selling 56M shares and 29M tied to debt deals, with ETF applications in progress.
- A new bill from Senator Schiff could challenge the Bitcoin plans, while Trump pushes for a national Bitcoin reserve.
Trump Media Keeps Bitcoin Plans on Track Despite Buyback
Trump media company, the folks behind Truth Social, just announced they’re buying back $400 million worth of their own stock. But they’re making it clear this won’t mess with their big plan to pour $2.3 billion into a Bitcoin treasury.
They had to clear up some confusion after first denying reports of a $3-billion crypto investment, only to later confirm they’re setting aside $2.5 billion for Bitcoin. The Monday statement said the stock buyback and the Bitcoin strategy are totally separate.
The SEC, now run by Trump’s pick Paul Atkins, gave the go-ahead in June for Trump’s media to use $2.3 billion from selling 56 million shares, plus another 29 million tied to some debt deals, to buy Bitcoin.
They’re also trying to launch a Bitcoin exchange traded fund (ETF) and another one tied to both Bitcoin and Ether. The SEC’s been okaying these kinds of ETFs since early 2024, so it’s not a huge surprise they’re jumping in.
Trump’s Crypto Dreams Face Some Heat
Trump himself is pushing for a national “Strategic Bitcoin Reserve” and a “Digital Asset Stockpile” through an executive order from March.
The idea is to hold onto cryptocurrencies the government seizes, though his team’s tossed around other ways to bulk up the reserves. Some senators, especially on the Permanent Subcommittee on Investigations, aren’t thrilled, saying Trump’s using his role to prop up crypto companies.
The same day Trump media shared their plans, California Senator Adam Schiff dropped a bill that would stop the president, his family, and other officials from getting involved with issuing or backing digital assets.
If that passes, it could throw a wrench in the company’s Bitcoin plans, especially since it’s so tied to Trump’s name. For now, they’re pushing forward, juggling the stock buyback and their Bitcoin bet, but politics might make things tricky down the line.
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