Get out now. Trump's social media company strikes deal to buy bitcoin: report

[cbabe]

https://www.rawstory.com/trump-crypto-2672214788/

Trump's social media company strikes deal to buy bitcoin: report

Krystina Alarcon Carroll
May 27, 2025 1:33PM

President Donald Trump’s social media company, Trump Media & Technology Group, is buying bitcoin, according to a Politico report.

The Media group is the parent company of Truth Social. Politico reports that the president is the controlling shareholder of the publicly traded company.

In a statement Tuesday, the company announced deals with about 50 large investors who will raise $2.5 billion for the company through stock and debt.

“We view Bitcoin as an apex instrument of financial freedom, and now Trump Media will hold cryptocurrency as a crucial part of our assets,” said Devin Nunes, Trump Media’s CEO, in the statement.

… more …

[bucolic_frolic]

1. What is all this bitcoin mining costing?

More than 2 cents a penny? They've spent billions on this fictitious currency.

[Drum]

2. Trump stock now down more than 10 percent for the day...

[muriel_volestrangler]

3. "Get out"? Scam company buys scam product. Who is "in" either of these who isn't hoping for a scam?

This is not capitalism, this is fraud, and everyone has always known it.

[PJMcK]

4. You are correct, it is fraud

Yet investors are making their bets.

Last summer, my wife and I came to the decision to get a sizable portion of our assets out of the markets. We wanted to be in a harder, more stable asset. We bought an apartment in Panama. It has been a great decision so far and a neighbor's apartment sold recently for 8% more than we paid for a comparable place.

I don't know anything about crypto/bit-coin or precious metals but real estate has always been good to us. Plus, the beach is beautiful and I'm not checking our accounts every day!