this post was submitted on 27 May 2025
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Trump Media & Technology Group, the company owned by the President, said Tuesday that it would raise $2.5 billion to invest in Bitcoin (www.reuters.com)
submitted 5 days ago* (last edited 5 days ago) by davriellelouna@lemm.ee to c/technology@lemmy.world
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[–] Lost_My_Mind@lemmy.world 43 points 5 days ago (1 children)

Jimmy Carter sold his peanut farm because he felt it would be a conflict of interest for the president to own outside business ventures while running the country. The country shit on him for being "weak" as a president, and OVERWHELMINGLY threw their support for the incoming ronald reagan.

The same guy who set up many of the policies that normalized the same behavior we see today.

This concept of scamming the people, and scamming the government, set up by a 34x convicted convict who's yet to see the inside of a jail cell isn't some anomaly. It's the logical conclusion to what's been happening in this country for 40+ years.

You did this America. This is the result.

[–] Dragomus@lemmy.world 10 points 5 days ago

You're right ... but I think it currently is the wrong argument to make that it's been going on so long...
The (extreme) situational corruption of this sitting ruler is what needs to be halted now and make it the final drop to setup regulations against what happened for 40 years.

[–] Ulrich@feddit.org 35 points 5 days ago (2 children)

The fact that anyone "invests in Bitcoin" is exactly why it has failed as an actual currency, which is, coincidentally, also why it's a bad investment.

[–] dhork@lemmy.world 4 points 5 days ago

The worst thing that has ever happened to Bitcoin was for its price to skyrocket

[–] card797@champserver.net 2 points 4 days ago (1 children)

Is it a security?

[–] acosmichippo@lemmy.world 1 points 4 days ago

it's an insecurity.

[–] MyOpinion@lemm.ee 6 points 5 days ago

Billions and billions of graft the Orange Turd is making.

[–] apfelwoiSchoppen@lemmy.world 3 points 4 days ago

Everything is a scam with this guy.

[–] dhork@lemmy.world -1 points 5 days ago (1 children)

This is good for Bitcoin

[–] IllNess@infosec.pub 18 points 5 days ago* (last edited 5 days ago) (1 children)

They will raise the price and dump it. It's an unregulated way for his billionaire friends to steal money from the people.

[–] dhork@lemmy.world -3 points 5 days ago (1 children)

Bitcoin is pretty widely traded, though. By some accounts, it has a daily trading volume of 50B. 2B is just a drop in that bucket, so it's not enough to directly manipulate the price.

No, if you want to make money by manipulating prices, you use a shitcoin. $TRUMP has a market cap of $2.5B, and a daily trading volume of 500M. A $2B investment in BTC can then be used on dodgy exchanges to buy and sell $TRUMP anonymously.

[–] lennee@lemm.ee 15 points 5 days ago (1 children)

The price manipulation in this case is suggesting that the president of the US is investing into BTC, not the price increasing because of the purchase.

[–] dhork@lemmy.world 11 points 5 days ago (1 children)

Oh. Absolutely, the President shouldn't be doing this at all. But then again, the President also seems to be using tariffs to directly manipulate the stock market, and Congress is just going to let him.

He's grabbed the entire Republican party by the pussy....

[–] lennee@lemm.ee 5 points 5 days ago* (last edited 5 days ago)

tbf he is kinda trying to grab the world by the pussy so in comparison this seems like a small issue even if its crazy and alone should be impeachable imo