Former President Donald Trump launched Truth Social as his social platform of choice after previously being banned from several leading platforms, including Twitter (now X), Facebook and Instagram, as related to the events of the Jan. 6 attack on the U.S. Capitol.
Smaller in user count than many other platforms, Truth Social gained a prominent new user this week.
What Happened: A potential rematch of the 2020 presidential election could be the decision voters will be left with for the 2024 presidential election. President Joe Biden and Trump find themselves leading their respective parties in election polls nearly one year out from the highly anticipated election.
As the digital age progresses, social media could become a more important medium in the 2024 election with several candidates even using X Spaces to make their public campaign announcements.
Candidates are already using X, Facebook, Instagram, YouTube and other platforms to help share their message and highlights.
While he was welcomed back to platforms he was previously banned from, Trump has been selective about using anything other than Truth Social. Trump often posts on the platform owned by Trump Media & Technology Group (TMTG) to share his thoughts and also criticism of Biden.
Biden might be taking a step from the Trump playbook and going directly at the former president with the launch of a Biden campaign account on Truth Social.
“There’s very little ‘truth’ happening on Truth Social, but at least now it’ll be a little fun,” the Biden campaign told Fox News.
The Biden campaign said the new account is an attempt to meet voters on the platforms they are using.
“Republicans can’t even agree on a Speaker of the House, so clearly, not every Republican thinks the same,” a Biden campaign official told Fox News.
Another reason to join the platform according to the Biden campaign will be to fight misinformation and disinformation that is on Truth Social about the current president.
“Well. Let’s see how this goes. Converts welcome!” the @BidenHQ Truth Social account posted Monday.
The Biden campaign officials said the move by the president is “going into the lion’s den to point out Republican’s hypocrisy and have a little fun at their own expense.”
Related Link: Trump Hit With Limited Gag Order As Federal 2020 Election Interference Trial Approaches
Why It’s Important: Truth Social officials told Fox News that the platform is welcome to “anyone around the world” and is a free, and open platform.
Trump campaign spokesperson Steven Cheung welcomed the move but added some caution for the president.
“Crooked Joe Biden and his team are finally acknowledging that Truth Social is hot as a pistol and the only place where real news happens,” Cheung said. “Unfortunately for Biden, his continuation of spreading misinformation to gaslight the American people in order to distract from his disastrous record won’t work and they’ll be ratioed to oblivion.”
Trump enjoys a sizable lead in social media following over Biden on platforms. On Twitter, Trump has 87.4 million followers, a sizable lead over the 33 million and 37.5 million, respectively, belonging to the @potus and @joebiden accounts.
Trump also has more followers on Instagram and Facebook, two platforms owned by Meta Platforms META than Biden.
The move comes as Truth Social’s parent TMTG is in the process of merging with Digital World Acquisition Corporation DWAC. The SPAC merger has been met with several setbacks and legal challenges to take Trump Media & Technology Group public.
The SPAC added another year to its voter deadline into 2024, escaping possible liquidation and the return of capital to shareholders last month.
DWAC Price Action: Digital World Acquisition shares were up 0.58% to $15.61 on Monday versus a 52-week trading range of $12.34 to $29.80. Shares of the SPAC are down 15% over the last year.
Read Next: Biden Back On Top, Here's The Narrow Lead The President Has Over Trump In 2024 Election Poll
Photos: Shutterstock
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
