Media Firm Newsmax Plans Crypto Reserve – Eyes $5M Bitcoin, Trump Coin Purchase [Yahoo! Finance]
Newsmax, Inc. Class B (NMAX)
Company Research
Source: Yahoo! Finance
Trump Coin over the next year, as a part of its strategic crypto reserve plans. Newsmax said that the company's Board of Directors have approved the plan on Thursday. Apart from Bitcoin accumulation, Newsmax is looking to add official Trump Coin, given its circulating value surpassing $1.2 billion. Newsmax CEO Christopher Ruddy said that Trump Coin's success has been “impressive.” If acquired, the media firm would become the first NYSE-listed company to purchase Trump Coin. Besides, Ruddy called Bitcoin “the gold standard” of cryptocurrency. “We believe it would be an important company marker to add this asset to our company reserves,” he added. First Digital Asst Purchase Imminent Further, Newsmax is planning to make its first crypto purchase soon, the official statement said. However, the company did not furnish details about how it plans to fund the initiative. “Additional cryptocurrency acquisitions will be evaluated based on market conditions, operational requirements
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- Newsmax (NYSE:NMAX) had its "sell (d-)" rating reaffirmed by analysts at <a style="font-weight:bold" href="https://weissratings.com/">Weiss Ratings</a>.MarketBeat