What to know : Trump Media & Technology Group transferred another 2,650 bitcoin, worth about $205 million, to Crypto.com, deepening scrutiny of its cryptocurrency strategy. The company, which bought 11,542 bitcoin at an average price of $118,522, is now estimated to be down roughly $455 million on its holdings as bitcoin trades far below its purchase price. The move follows Trump Media’s withdrawal of its spot bitcoin ETF application and comes amid steep financial pressure, including a first-quarter net loss of $405.9 million on just $871,200 in revenue.
Trump Media & Technology Group (DJT), the parent company of Truth Social, has transferred another 2,650 bitcoin to Crypto.com in a move that is likely to intensify scrutiny of the company’s struggling cryptocurrency strategy.
At current market prices, the transfer is worth roughly $205 million, with bitcoin trading at approximately $77,341 per token. Blockchain data shows the deposit occurred during late U.S. evening hours, according to Lookonchain, marking the latest significant movement in the company’s digital asset holdings.
Trump Media originally purchased 11,542 BTC for approximately $1.37 billion at an average acquisition price of $118,522 per bitcoin. The latest transfer follows an earlier move four months ago, when the company shifted out 2,000 BTC valued at roughly $175 million at the time, with bitcoin trading near $87,378.
Following the newest transaction, Trump Media is now estimated to be down roughly $455 million on its bitcoin holdings as the cryptocurrency continues to trade well below the company’s average purchase price.
The latest crypto transfer comes just days after Trump Media withdrew its application for a spot bitcoin exchange-traded fund, raising fresh questions about the company’s ambitions in the increasingly crowded crypto investment market. ETF analysts said the decision appeared to be driven less by structural or regulatory concerns and more by deteriorating economics across the spot bitcoin ETF sector.
The company’s financial results have also come under pressure from its aggressive cryptocurrency positioning. In May, Trump Media reported a staggering first-quarter net loss of $405.9 million on just $871,200 in revenue, widening sharply from a $31.7 million loss reported during the same period a year earlier.
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