Newsmax Inc. (NYSE:NMAX) (“Newsmax” or the “Company”) today announced that the Company’s Board of Directors has authorized a strategic purchase plan of up to $5 million to purchase Bitcoin and Trump Coin over the next 12 months, subject to market conditions.
Newsmax expects to join more than 100 public companies that hold Bitcoin or other cryptocurrencies on their balance sheets. According to BitcoinTreasuries data, public company-held coin represents over 4.7% of total Bitcoin in circulation.
Newsmax also plans to add official Trump Coin to its strategic crypto reserve. The popular meme coin was launched earlier this year by President Trump and the circulating coin value exceeds $1.2 billion today with a total coin market value of around $6 billion, according to figures from Coinbase.
“Bitcoin is fast becoming the gold standard of cryptocurrency, and we believe it would be an important company marker to add this asset to our company reserves,” Newsmax CEO Christopher Ruddy said.
“We are also excited to add Trump Coin to our cryptocurrency plan, as we believe the coin’s value should track the success of the Trump presidency, which so far has been impressive,” Ruddy continued.
After making such a purchase, Newsmax expects to be the first NYSE company to purchase Trump Coin.
Newsmax anticipates making the first tranche of cryptocurrency purchases in the near future. Additional cryptocurrency acquisitions will be evaluated based on market conditions, operational requirements and strategic objectives. The Company maintains flexibility to adjust its digital asset strategy as market conditions evolve.
Newsmax has established comprehensive protocols for digital asset custody and management, partnering with leading institutional cryptocurrency services providers to ensure secure storage and handling of its cryptocurrency reserves.
This past March, President Trump announced the establishment of a Strategic Bitcoin Reserve for the United States. The fund is expected to begin with forfeited government Bitcoin and will grow with a Digital Asset Stockpile made up of other cryptocurrencies.
Newsmax listed on the NYSE in March 2025 after a historic Private Preferred raise and Regulation A+ IPO offering that successfully raised $300 million.
