Newsmax Inc. (NYSE: NMAX) announced its board of directors has authorized a strategic purchase plan of up to $5 million to acquire Bitcoin and Trump Coin over the next 12 months, subject to market conditions. This significant allocation places Newsmax among more than 100 public companies currently holding cryptocurrency reserves as part of their corporate treasury strategies.
CEO Christopher Ruddy characterized Bitcoin as representing the "gold standard of cryptocurrency" in the company's announcement, while expressing confidence that Trump Coin's value "should track the success of the Trump presidency." The company expects to become the first NYSE-listed company to purchase Trump Coin, marking a notable development in the intersection of political movements and digital asset adoption by established corporations.
Newsmax plans to initiate its first tranche of digital asset acquisitions in the near term, with the company emphasizing that these purchases will be supported by institutional custody and security partners. This approach reflects the growing sophistication in how public companies manage cryptocurrency holdings, addressing security concerns that have historically deterred corporate adoption of digital assets.
The announcement comes as Newsmax operates one of the nation's leading news outlets through Newsmax Broadcasting LLC. The fourth highest-rated network reaches more than 40 million Americans regularly through Newsmax TV, the Newsmax App, its popular website Newsmax.com, and publications such as Newsmax Magazine. The company's media properties extend their reach through social media accounts that collectively attract 20 million followers.
According to the Reuters Institute, Newsmax ranks among the top U.S. news brands, while Forbes has described the company as "a news powerhouse." The cryptocurrency purchase plan represents a strategic diversification of corporate assets that aligns with the company's positioning at the intersection of media, politics, and emerging financial technologies.
The $5 million cryptocurrency allocation signals growing institutional acceptance of digital assets beyond traditional investment vehicles. By including both established cryptocurrencies like Bitcoin and newer political-themed tokens like Trump Coin, Newsmax demonstrates a nuanced approach to digital asset strategy that acknowledges both store-of-value propositions and speculative political investments.
This move may influence other media companies and publicly traded firms to consider similar cryptocurrency allocations, particularly as regulatory frameworks continue to evolve and institutional infrastructure for digital asset custody matures. The planned acquisitions over the coming year will be closely watched by both financial markets and political observers interested in the convergence of digital currencies and political movements.
