TechFlow news, October 16 — According to an official announcement, Newsmax Inc. (NYSE: NMAX), a news media company listed on the New York Stock Exchange, announced that its board of directors has authorized a strategic acquisition program to purchase up to $5 million worth of Bitcoin and Trump Coin over the next 12 months, subject to market conditions. Newsmax is expected to join the ranks of more than 100 publicly traded companies holding Bitcoin or other cryptocurrencies on their balance sheets.
Newsmax CEO Christopher Ruddy stated that Bitcoin is rapidly becoming the gold standard of cryptocurrencies, and the company believes adding this asset to its reserves is significant.
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