Newsmax creates Digital Assets Treasury... includes Bitcoin and OfficialTrump

Newsmax, a pro-Trump U.S. media company listed on the New York Stock Exchange, is creating a Digital Assets Treasury centered on Bitcoin (BTC) and President Donald Trump's meme coin 'OfficialTrump (TRUMP)'.

On the 16th (local time), Decrypt reported that Newsmax's board approved a plan to purchase up to $5,000,000 worth of the two assets combined over the next year in stages. It did not disclose specific funding methods, but said it would make its first strategic purchase soon.

Christopher Ruddy, Newsmax CEO, said, "Bitcoin has already established itself as the gold standard of virtual assets, and incorporating it into the company's treasury will be an important milestone," and added, "We also have high expectations for adding OfficialTrump, which can reflect President Trump's performance."

With this move, Newsmax became the second media company, after Trump Media, to include digital assets in its corporate treasury. Trump Media purchased $2,000,000,000 worth of Bitcoin and related assets earlier this year and is now among the top 10 publicly listed companies by Bitcoin holdings.

Meanwhile, on the New York Stock Exchange (NYSE) that day, Newsmax's stock closed down 4% at $10.83, but later rebounded more than 4% in after-hours trading. Bitcoin and OfficialTrump both showed declines that day. Bitcoin was down 3% at $108,200, and the Trump coin traded down 2.1% at $5.90.