Newsmax Doubles Down on MAGA Credentials with $5M Bitcoin and Trump Coin Purchase

Newsmax, a pro-Trump media company, has announced a $5 million investment in Bitcoin and Trump Coin, making it the first firm to hold the Official Trump cryptocurrency. The move is seen as a branding effort to showcase the company's ideological credentials and align with its staunch pro-Trump reporting. NMAX stock rose 3% in after-hours trading following the announcement.

Newsmax, a prominent pro-Trump media company, has announced a significant investment in Bitcoin and Trump Coin, marking the first time an NYSE-listed firm will officially hold the Official Trump cryptocurrency. The move, approved by the company's board of directors, aims to diversify corporate holdings and align with the growing crypto adoption across U.S. institutions, according to a Cryptopolitan report.

The company plans to allocate up to $5 million cumulatively to Bitcoin and Trump Coin over the next year. The purchases are set to begin soon, with future acquisitions depending on the crypto market's behavior. This decision has led to a 3% increase in Newsmax shares after-hours trading, with the stock landing at $11.27, the Cryptopolitan report said.

Chief Executive Christopher Ruddy explained that Trump Coin's value "should track the success of the Trump presidency, which so far has been impressive." Ruddy stated that the initiative aims to diversify corporate holdings and align with the growing crypto adoption taking place across U.S. institutions, the Cryptopolitan report added.

This investment comes amidst a broader trend of U.S. companies and institutions adopting cryptocurrencies. In recent months, several major financial institutions have announced plans to integrate cryptocurrencies into their services. For example, Charles Schwab has announced plans to launch spot Bitcoin and cryptocurrency trading services in 2026, according to an oDaily article.

Newsmax's investment in Bitcoin and Trump Coin is part of a broader trend of companies aligning their holdings with their ideological stances. By holding Trump Coin, Newsmax aims to showcase its pro-Trump credentials and appeal to its target audience.

In conclusion, Newsmax's $5 million investment in Bitcoin and Trump Coin is a significant move that reflects the company's commitment to crypto adoption and its ideological stance. The investment is likely to be closely watched by the financial community and could have implications for the broader crypto market.