Trump Media & Technology Group (DJT), the parent company of Truth Social, transferred an additional 2,650 bitcoins to Crypto.com in a move likely to intensify scrutiny of the company’s troubled cryptocurrency strategy.
At current market prices, the transfer is worth approximately $205 million, with bitcoin trading at approximately $77,341 per token. Blockchain data shows the deposit took place late in the evening in the United States, according to Lookonchain, marking the latest significant movement in the company’s digital asset holdings.
Trump Media initially 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 transferred 2,000 BTC, valued at the time at around $175 million, with bitcoin trading at nearly $87,378.
Following the latest transaction, Trump Media is now estimated to have lost approximately $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 Bitcoin spot exchange-traded fund, raising new 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 than by the deteriorating economic situation in 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, a significantly larger loss than the $31.7 million loss recorded during the same period a year earlier.
