Trump calls for Bitcoin—while his own company loses $244 million: MAGA’s first major defeat in crypto

When Trump waved his fist at a rally and shouted, “America will become the cryptocurrency capital,” his own company—Truth Social’s parent—was quietly setting aside losses of $244 million in cryptocurrencies.

Yes, the person who shouted the loudest was the one who got cut the deepest.

Last year, how much did Trump’s media shine?

He boldly announced a “Bitcoin treasury strategy,” raised $2.5 billion, and went on a big buy—picking up nearly 10,000 BTC—at a cost basis of $1.13 billion.

And to tie into Truth Social’s reward system, he also shelled out $105 million to buy 756 million CRO (Cronos tokens).

It looked like a real “I’m going to take crypto off the ground” move.

So what happened?

In the first quarter of this year, BTC fell in a wave—straight back to reality.

That $244 million unrealized loss is laid out in black and white in the financial statements.

Even worse is CRO—after a near zero-style crash from its peak, that $105 million investment now has a fair value of only $53 million.

It has lost nearly half.

You think that’s the end?

There are also an additional $108.2 million in investment losses.

Add everything up, and the first-quarter net loss is $405.9 million.

What about revenue?

$871,200.

Yes, you read that right.

Lost $400 million, but earned less than $1 million.

This isn’t a company—it’s a burning fiscal sinkhole.

“In a bear market, no one can prop up their portfolio on political belief.”

Trump can shout call-outs, he can say MAGA, he can treat Bitcoin like a campaign slogan.

But the market doesn’t talk faith—it just balances the books.

Your BTC, with a cost of $1.13 billion, is now only worth a bit over $871.2k.

Your bet on CRO—once a star-level collaboration—has turned into a “fallen from grace” asset.

Shouting call-outs and pumping doesn’t rescue the balance sheet.

Even more interesting: to hedge risk, the company also used covered call options, locking in a portion of BTC as collateral.

That means many coins can’t be sold at all—you can only watch the floating losses sit on the books.

Want to cut losses and run? That’s not a thing.

This is “Trump-style value buying”—a move that looks powerful, but traps you tight. $ETH #Gate广场五月交易分享 $BTC