Newsmax confirmed Thursday that its board approved a plan to buy up to $5 million worth of Bitcoin and Trump Coin within the next twelve months.
The purchases will begin “soon,” with future acquisitions depending on how the crypto market behaves. That announcement instantly sent Newsmax shares up 4.1% in after-hours trading, landing at $11.27.
The decision makes Newsmax the first New York Stock Exchange (NYSE)-listed company to officially hold Trump Coin in its balance sheet.
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