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, Truth Social, was quietly recognizing a $244 million crypto loss.

That's right, the loudest caller was the one cut the deepest.

Last year, Trump’s media was quite the spectacle?

Boldly announced "Bitcoin Treasury Strategy," raising $2.5 billion, buying nearly 10k BTC, with a cost basis of $1.13 billion.

Also spent $105 million to buy 756 million CRO (Cronos tokens) to tie into Truth Social’s reward system.

With a stance of "I want to take crypto to new heights."

And the result?

In the first quarter of this year, BTC experienced a wave of decline, directly exposing the reality.

The $244 million unrealized loss is clearly written in the financial report.

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

Losing nearly half.

You thought that was the end?

There’s an additional $108.2 million investment loss.

Adding it all up, the first quarter net loss is $405.9 million.

And 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.

“In a bear market, no one can rely on political faith to support the market.”

Trump can call the shots, MAGA, and use Bitcoin as a campaign slogan.

But the market doesn’t care about faith, only about the numbers.

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

Your bet on CRO, from a top-tier partnership, has fallen to near-worthless assets.

Calling the market to pump assets won’t save the balance sheet.

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. $ETH #Gate广场五月交易分享 $BTC