Trump calls for Bitcoin, but his own company loses 240 million dollars: MAGA's first defeat in crypto

When Trump waved his fist at a rally and declared "America will become the cryptocurrency capital," his own company's parent company, Truth Social, was quietly writing off a $244 million crypto loss.
That's right, the loudest caller was the one cut the deepest.
Last year, Trump’s media was quite glamorous?
Boldly announced "Bitcoin Treasury Strategy," raising $2.5 billion, aggressively buying nearly 10k BTC, with a cost basis of $1.13 billion.
Also, to tie into Truth Social's reward system, spent $105 million to buy 756 million CRO (Cronos tokens).
With a stance of "I want to take the crypto world to new heights."
And the result?
In the first quarter of this year, BTC experienced a wave of decline, directly returning to its original form.
The $244 million unrealized loss was clearly written in the financial report.
Even worse was CRO — dropping almost to zero from its peak, the $105 million investment now has a fair value of only $53 million.
Losing nearly half.
You think that's it?
There’s an additional $108.2 million investment loss.
Adding it all up, the net loss in the first quarter was $405.9 million.
And the revenue?
$87,120.
Yes, you read that right.
Lost 10k, earned less than 1 million.
This is not a company; it’s a burning financial pit.
“No one can rely on political faith to protect their portfolio in a bear market.”
Trump can call for buys, can MAGA, can take Bitcoin as a campaign slogan.
But the market doesn’t care about faith, only about numbers.
Your BTC bought at a cost of $1.13 billion is now worth just over $871.2k.
Your bet on CRO, from a top-tier partnership to a near-worthless asset.
Calling for a rally to save the balance sheet won’t work.
What’s more interesting is that this company, to hedge risks, also used covered call options, locking in some BTC as collateral.
In other words, many coins can’t be sold at all, only watched as unrealized losses hang on the books.
Want to cut losses and run? Not possible.
This is “Trump-style bottom fishing”—a bold move, but caught in a trap.