Trump Media Technology Group: The $400 million stock buyback plan will not affect its Bitcoin reserve strategy

ChainCatcher news, according to Cointelegraph, the Trump Media & Technology Group, which owns the Truth Social platform, stated that its $400 million stock buyback plan will not affect its plans to establish a Bitcoin asset reserve.

The media company founded by U.S. President Donald Trump announced on Monday that its board has authorized the repurchase of up to $400 million of common stock. The company stated that this buyback will not impact its strategy to use over $2 billion in funds to establish a Bitcoin reserve.

According to the announcement, the Bitcoin strategy of the Trump Media & Technology Group "includes a private financing round totaling approximately $2.3 billion."