It’s been 39 days since I last talked about DJT (Trump Media & Technology Group Corp), when it had a stock price of $12.64/sh. How it’s done since? This is a 1 month chart from yahoo! finance.
In a word, Poorly. DJT has dropped 20% in the last month, so the announced merger with TAE was little more than sugar water for the stock price.
But, if you’ve actually invested in DJT, what of the impact of cryptocurrency on DJT? What of $TRUMP?
If you like the apple tree, I’m sorry to inform you that fire blight made it as valuable as $TRUMP. We had it removed.
If that was your voice we all just heard, I’m sorry to inform you that $TRUMP is doing even more poorly. Having opened at $45/coin, it’s been just about all downhill right from the beginning; today, CoinMarketCap gives a $TRUMP coin a value of $3.32, or a 92% drop. Much like Bitcoin and its negative assessment, the point that it brings no unique utility nor better major functionality to the game means $TRUMP does not function as a stable currency or even a noteworthy investment, an observation I’ve been pushing for years with regard to Bitcoin.
Its function has really been a way to attract MAGA folks who wanted to appear sophisticated, to contribute their cash to the Trumps on a worthless investment, building a sordid community that functions to strip enthusiasts of their cash reserves, while pretending to build moats around them.
The collapse of $TRUMP means that DJT’s treasury of cryptocurrency has become an anchor in their underwear. If they sell out, they take a loss; if they don’t sell, they risk losing more and more money as $TRUMP and Bitcoin, assuming that’s also part of the treasury, collapse.
Which brings up the question: Were ICE agents sent to Minneapolis and/or National Guard sent to DC paid in cryptocurrency?
DJT, to this investor but not a financial advisor, continues to look like a repellent investment, best avoided entirely.
