Overview
- The board authorized purchases of up to $5 million in Bitcoin and the Official Trump Coin over the next 12 months, with an initial tranche expected in the near future subject to market conditions.
- Newsmax says it expects to be the first NYSE-listed company to add the TRUMP token to a corporate reserve and has arranged institutional custody protocols for secure storage.
- CEO Christopher Ruddy framed Bitcoin as a developing reserve asset and said the TRUMP token’s performance should reflect the success of the Trump presidency.
- NMAX shares rose about 3%–4% in after-hours trading following Thursday’s announcement and gained roughly 2.5% on Friday’s session, while BTC and TRUMP both declined that day.
- Coverage notes the economic scale is limited, estimating a full $5 million allocation equals roughly 46 BTC, and points to TRUMP trading near the mid-$5 range with a market value around $1.1 billion after a steep drop from its January peak.