Trump Media Announces $400 Million Buyback Amid Bitcoin Ambitions

Trump Media and Technology Group (TMTG), the company behind the Truth Social platform, has announced a $400 million stock buyback program. The company clarified that this initiative is separate from its cryptocurrency ambitions, which include investing more than $2 billion into Bitcoin. Despite the buyback, TMTG confirmed its plans to build a Bitcoin treasury, which was initially denied but later confirmed after securing $2.5 billion in funding for Bitcoin purchases. The funds were generated through the resale of shares and convertible notes, based on debt and equity agreements previously registered with the US Securities and Exchange Commission (SEC).

The SEC, chaired by Paul Atkins, approved the registration statement tied to TMTG’s Bitcoin initiative earlier this year. The company also submitted applications to launch a spot Bitcoin ETF and a dual ETF tied to both Bitcoin and Ethereum. These applications came after the SEC began approving spot Bitcoin ETFs in January of 2024 and spot Ether ETFs in May of 2024. Beyond corporate investments, President Trump proposed the creation of a national “Strategic Bitcoin Reserve” and a broader “Digital Asset Stockpile” via a March executive order. These reserves will hold digital assets seized or forfeited to the US government. However, Trump advisers have hinted at broader ambitions for accumulating digital assets beyond legal forfeitures. Critics, including lawmakers, accused the president of leveraging his office to financially benefit crypto-aligned entities.

The disapproval of Trump’s crypto ties is only increasing. Lawmakers recently introduced the COIN Act, a bill aimed at preventing what they describe as the financial exploitation of digital assets by the US president and other public officials. The legislation comes in response to the growing concerns over President Donald Trump’s connections to the cryptocurrency industry, particularly after the disclosure that he earned through World Liberty Financial, a crypto platform backed by members of his family. According to the lawmakers, Trump’s involvement with digital assets raised “significant ethical, legal, and constitutional concerns” regarding the use of presidential power for personal financial gain. The COIN Act proposes to bar current and former public officials—including presidents and their families—from issuing, sponsoring, or endorsing any form of digital asset like cryptocurrencies, meme coins, NFTs, or stablecoins. These restrictions would apply for a period extending from 180 days before taking office to two years after leaving office.

On the same day, a parallel bill in the House called the Stop Trading, Retention, and Unfair Market Payoffs (TRUMP) in Crypto Act was introduced. The measure was introduced shortly after Trump held a private dinner to honor top holders of his personal meme coin. Despite their high-profile nature, the future of either bill is still very uncertain. With Democrats in the minority in both chambers of Congress, the legislation faces an uphill battle. Even if it passes the House and Senate, it would likely be vetoed by President Trump.

Trump and TMTG are not alone in their Bitcoin ambitions. Panther Metals Plc, a mineral exploration company, also recently unveiled a strategic shift by integrating Bitcoin into its corporate treasury, combining traditional mining operations with digital asset holdings. The company announced plans to acquire worth of Bitcoin to position the asset not just as a store of value but as a form of productive capital. As part of this strategy, Panther will use in Bitcoin from its treasury as collateral to complete the acquisition of the Pick Lake mining deposit in Ontario, Canada, while maintaining full Bitcoin exposure. This move is a departure from the standard Bitcoin treasury model, where companies passively hold the asset. Panther plans to actively leverage Bitcoin to finance high-quality mineral projects, minimizing shareholder dilution by tapping into more favorable terms available in the digital asset market. The Pick Lake asset is part of the larger Winston Project, a high-grade, polymetallic zinc, copper, and precious metals deposit. It represents approximately 85% of the project's total mineral resources. Zinc is a key component in galvanizing steel and battery technologies, and is considered a critical mineral, adding even more strategic value to the acquisition.

Panther now joins a growing list of corporations adopting Bitcoin treasury strategies. Real estate magnate recently revealed his firm’s first Bitcoin purchase after acquiring for its corporate treasury. Meanwhile, established Bitcoin holders like Strategy and Japan-based Metaplanet continue to boost their reserves. The company’s CEO believes in Bitcoin’s role as a hedge against inflation and fiat currency volatility, and stated that the hybrid strategy enhances the company’s resilience and market adaptability. Investor enthusiasm was evident, as shares of Panther Metals surged on the London Stock Exchange on Monday. Over the past month, stock climbed, including a rise in just the last week. Panther Metals share price over the past month. Panther now joins a growing list of corporations adopting Bitcoin treasury strategies. Real estate magnate recently revealed his firm’s first Bitcoin purchase after acquiring for its corporate treasury. Meanwhile, established Bitcoin holders like Strategy and Japan-based Metaplanet continue to boost their reserves.