KUALA LUMPUR, Sept 8 (Bernama) -- Bursa Malaysia closed almost flat on Tuesday as buying interest rotated away from index heavyweights towards smaller-cap construction stocks, with sentiment affected by geopolitical uncertainty, said an analyst. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.39 of a point to 1,714.40 from Monday’s close of 1,714.79. The benchmark index opened 1.65 points lower at 1,713.14 and moved between 1,710.44 and 1,714.50 throughout the trading session. The broader market was almost evenly balanced, with decliners leading gainers 548 to 546, while 598 counters were unchanged, 1,107 were untraded and 25 were suspended. Turnover expanded to 4.13 billion units valued at RM3.14 billion from 3.60 billion units valued at RM2.45 billion on Monday.
What’s Going On?
Trump Media & Technology Group — best known as the parent company of Truth Social — is no longer just a social media play. It’s evolving into something much riskier: a crypto-backed treasury asset holder.
- Closed up 3.2% Tuesday
- Bitcoin flirting with $120K
- Company now holds ~$2B in BTC & bitcoin-related securities
- That’s two-thirds of its liquid assets
- Another $300M allocated for options on BTC-related assets
This is no joke. Trump Media is now a leveraged crypto bet, masked as a social media company.
Why It Matters
This move feels eerily familiar — think MicroStrategy ($MSTR), the OG Bitcoin treasury bull.
Trump Media raised $2.3B in May and appears to be going all-in on crypto.
But the business case? Truth Social is still… well, uncertain.
Zooming Out
Despite this week’s rally:
$DJT is down 41.8% in 2025
Bitcoin is up 28.2%
S&P 500? +7.3%
This rebound looks more like a Bitcoin sympathy spike than a signal of fundamental strength.
The Takeaway
“When a media company starts behaving like a crypto hedge fund, it’s time to question what you’re actually buying.”
If you're buying DJT now, you're not just betting on Truth Social — you're betting on Bitcoin, political narratives, and market momentum all at once.
Short-term pop? Maybe.
Long-term thesis? Still cloudy.
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