U.S. conservative outlet Newsmax said it has decided to buy up to $5 million (about 6.8 billion won) worth of Bitcoin and the meme coin "Trump Official" within the next 12 months. The decision was finalized after the company's board approved a strategic plan to purchase virtual assets in stages depending on market conditions. Newsmax is expected to join the ranks of more than 100 listed companies that hold Bitcoin as an asset.
On the 16th (local time), according to Newsmax, Newsmax plans to add the meme coin "Trump Official," launched earlier this year by President Donald Trump, to its strategic asset portfolio. According to Coinbase data, Trump Official's market capitalization is about $6 billion, and its circulating value has surpassed $1.2 billion. If Newsmax holds the Trump coin, it will become the first case among corporations listed on the New York Stock Exchange (NYSE) to officially purchase this coin.
Christopher Ruddy, Newsmax's chief executive officer (CEO), said, "Bitcoin has established itself as the gold standard of virtual assets, and incorporating it into the company's core assets will be a meaningful milestone." He added, "We believe the value of the Trump coin will be determined by President Trump's term and achievements. The success so far has been very impressive."
Newsmax said it plans to execute its first virtual asset purchase soon through this buy plan. Additional purchases will be decided carefully based on market conditions, operational needs, and the company's strategic objectives. The company added, "We will maintain the flexibility to adjust our digital asset strategy in line with changes in the market environment."
The decision came after President Trump announced a plan in Mar. to establish a "national strategic Bitcoin reserve." At the time, President Trump said the government would use Bitcoin seized by authorities as the underlying asset and later expand it into a national digital asset reserve that includes various virtual assets.
The market reacted immediately. Right after the announcement, Newsmax shares closed up 4.1% at $11.27 in after-hours trading. Investors interpreted the decision as a signal that Newsmax is making a full-fledged entry into the digital asset market. In particular, the plan to buy Bitcoin and the Trump coin simultaneously fueled expectations of a rallying effect for "pro-Trump conservative funds." Some analysts called Newsmax's move "a symbolic case of turning a political brand into a financial strategy."
Earlier this year, Newsmax raised $300 million through a Regulation A+ public offering, a simplified listing framework of the U.S. Securities and Exchange Commission (SEC), and listed on the NYSE. The decision to buy virtual assets is being seen as a move aimed at expanding into a new market centered on conservative-leaning investors and Trump supporters.
In addition, the announcement was also seen as a move that goes beyond simple asset management to carry political meaning. Newsmax is a media company based on President Trump's core support base, and incorporating the Trump coin as an official asset was interpreted as a case of expanding its "pro-Trump" identity into a financial strategy. The market predicted that ties between the Trump administration, which is strengthening its virtual asset policy, and Newsmax would become even stronger.