Nvidia and TSMC to unveil first domestic wafer for Blackwell chips, Axios reports
Newsmax Inc. (NMAX) announced its board of directors authorized a strategic purchase plan of up to $5 million to buy Bitcoin and Trump Coin over the next 12 months, subject to market conditions.
The media company 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 Bitcoin represents over 4.7% of total Bitcoin in circulation.
Newsmax plans to add Trump Coin, a cryptocurrency launched by President Trump, to its strategic crypto reserve. The coin has a circulating value exceeding $1.2 billion with a total market value of around $6 billion, according to Coinbase figures.
"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," said Newsmax CEO Christopher Ruddy.
Ruddy added that the company is "excited to add Trump Coin to our cryptocurrency plan, as we believe the coin’s value should track the success of the Trump presidency."
The company expects to be the first NYSE-listed company to purchase Trump Coin following the acquisition. Newsmax anticipates making its first cryptocurrency purchases in the near future, with additional acquisitions evaluated based on market conditions and strategic objectives.
Newsmax has established protocols for digital asset custody and management, partnering with institutional cryptocurrency services providers for secure storage. The company listed on the NYSE in March 2025 after raising $300 million through a Private Preferred raise and Regulation A+ IPO offering.