Newsmax (NYSE: NMAX) announced that its board of directors has approved a strategic purchase plan of up to $5 million to acquire Bitcoin and Trump Coin over the next 12 months, subject to market conditions. The move positions Newsmax among more than 100 public companies holding cryptocurrency reserves. CEO Christopher Ruddy said Bitcoin represents the “gold standard of cryptocurrency,” while Trump Coin’s value “should track the success of the Trump presidency.” Newsmax expects to be the first NYSE-listed company to purchase Trump Coin and plans to initiate its first tranche of digital asset acquisitions in the near term, supported by institutional custody and security partners.
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About Newsmax
Newsmax Inc. is listed on the NYSE (NMAX) and operates, through Newsmax Broadcasting LLC, one of the nation’s leading news outlets, the Newsmax channel. The fourth highest-rated network is carried on all major cable stations, as well as a major satellite system. Newsmax’s media properties reach more than 40 million Americans regularly through Newsmax TV, the Newsmax App, its popular website Newsmax.com, and publications such as Newsmax Magazine. Through its social media accounts, Newsmax reaches 20 million combined followers. Reuters Institute says Newsmax is one of the top U.S. news brands and Forbes has called Newsmax “a news powerhouse.”
For more information about the company, please visit https://ir.newsmax.com/overview/default.aspx
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