Truthcoin Spikes in Price, as Investors Note it’s Likely to Become Asset-backed With 400 Million Shares
By CNBS News
Numerous articles have publicly stated that Truthcoin, a small-cap crypto behind free speech platforms, that listed for $0.20 cents last July, on mid-tier crypto exchange Azbits, after a buyout of Bitcoin 2.0, is potentially going to be an asset backed by 400 Million shares in TruthGroup. If this occurs the crypto would become even more attractive, especially as the TruthGroup and its investors would seek to mop up as many coins, once escrow for Bitcoin 2.0 holders ends soon, so they can start to sell.
A recent spike in trading, although on small volumes, still saw a price surge to new highs of over $1 to $1.035 USD. No doubt, some buyers are confident the asset backing will proceed. Although it’s expected to come under heavy selling pressure once the escrow period ends, until the excess coin from those existing users, from the Bitcoin 2.0 sale start selling. Although many may hold, & rather sell after it becomes asset-backed, for a potentially much higher price. Also, Truthcoin offers a 15% per annum return for holders that keep the coin for 12 months or more by default. This makes it attractive for those seeking yield, not just capital gains.
At times, its price has been stable, and then other times it has been very volatile, which can be expected of small-cap cryptos.
But due to a recent good run for cryptos, it’s maybe attracting speculators, after a potentially attractive coin, before it becomes asset-backed.
Currently, the only exchange to acquire it is Azbit.com, but other exchanges are expected to list the coin later in 2023.
A spokeswoman said, “It can also be acquired directly from Truthcoin.social by donating to independent media who support the crypto for advertising and free speech platform subscriptions, such as Truthbook.social, which has had over 250,000 posts in its pre-launch period. Some analysts have suggested a good move for free speech platforms would be to get enough user growth to attract the eye of Elon Musk’s Twitter, which may buy up smaller free speech platforms to grow faster and access non-woke talent. Musk reportedly fired 50% of Twitter’s staff, mostly extreme left-wingers, and a further 30% resigned rather than work the hours Musk expected. Most free speech platform employees are anti-woke and anti-left-wing extremists.
The spokeswoman said that “those who become users on TruthGroups free speech platforms, such as Facebook’s alternative, Truthbook.social, also earn free Truthcoin by posting, inviting users, and creating content, including on its YouTube alternative, TruthTube.video.”
Truthcoin is working on a PayPal alternative payment system to service the anti-globalist market, an economy estimated to grow to at least 30% of the market among those who detest censorship. PayPal introduced last year, fines and the ability to deduct from users’ accounts $2,000 USD if they post any misinformation (anything that goes against the fraudulent narrative). PayPal has since seen an exodus, like Facebook, which lost over $500 billion in market cap last year. The TruthGroup hopes to pick up a tiny crumb of Facebook’s lost market cap and become a billion-dollar tech start-up within 5 years. If it backs Truthcoin with its shares, it would fuel its price and enable holders to actively trade via exchanges.