Trump Media don okay $400M buyback, dem still get $2.3B Bitcoin reserve
Trump Media and Technology Group (NASDAQ: DJT) don approve $400 million open-market share buyback, and all the shares wey dem don buy go retire. The board talk say this buyback no concern with the $2.3 billion Bitcoin reserve strategy. After the announcement, DJT shares climb pass 3.8%, show say traders get confidence. CEO Devin Nunes yarn say the company get $3 billion cash wey enough for shareholder returns and strategic crypto plans. Before now, Trump Media collect over $2 billion from about 50 institutional investors—include $100 million from DRW—to build their Bitcoin treasury, wey Crypto.com and Anchorage Digital dey hold. The company don also file to register almost 85 million shares for resale, plus dem partner with Crypto.com to file for combined Bitcoin-Ethereum ETF wey get 75% BTC/25% ETH allocation. Nobody talk when dem wan do the buyback or buy more Bitcoin.
Bullish
$400 million share buyback plus correct $2.3 billion Bitcoin reserve plan dey show say financial health strong and dem dey committed to crypto for long term. Di stock jump and ETF filing still add more better energy. For short term, di buyback go support DJT stock; for mid to long term, dem plan to dey collect more Bitcoin and ETF plan fit make steady demand for BTC and ETH grow.