Newsmax Inc. has announced a strategic move to invest up to $5 million in Bitcoin and Trump Coin over the next year. This decision, subject to market conditions, marks Newsmax’s entry into the realm of companies holding cryptocurrencies on their balance sheets.
The company aims to add Bitcoin, regarded as a standard in the crypto world, to its asset reserves. Additionally, Newsmax plans to purchase Trump Coin, a popular meme coin associated with President Trump, whose market value stands noteworthy. Newsmax’s CEO, Christopher Ruddy, expressed confidence in incorporating these digital assets, emphasizing their potential value and alignment with the company’s objectives.
Newsmax is poised to be the first NYSE-listed entity to purchase Trump Coin. The initial cryptocurrency transactions are anticipated soon, with ongoing evaluations based on strategic needs and market dynamics. The company has partnered with leading crypto service providers to ensure secure management of these assets.
