Trump Media & Technology Group (DJT), the parent company of Truth Social, has transferred another 2,650 bitcoin worth approximately $205 million to Crypto.com at current market prices. According to blockchain data from Lookonchain, the deposit occurred during late U.S. evening hours, marking the latest significant movement in the company's digital asset holdings. This follows an earlier transfer 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. The latest transfer represents another substantial portion of the company's bitcoin holdings as it continues to liquidate its cryptocurrency position.
The latest transfer deepens Trump Media's cryptocurrency losses, with the company now estimated to be down roughly $455 million on its bitcoin holdings. Trump Media originally purchased 11,542 BTC for approximately $1.37 billion at an average acquisition price of $118,522 per bitcoin. At current market prices, bitcoin is trading at approximately $77,341 per token, significantly below the company's average purchase price. The substantial losses reflect the company's aggressive cryptocurrency positioning amid declining bitcoin prices, with the latest transfer continuing this pattern of liquidation.
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. According to ETF analysts, the decision appeared to be driven less by structural or regulatory concerns and more by deteriorating economics across the spot bitcoin ETF sector. This withdrawal follows the company's earlier decision to transfer bitcoin holdings, suggesting a strategic shift in its cryptocurrency investment approach as it focuses on liquidating rather than expanding its digital asset exposure.
Trump Media's financial results have come under significant pressure from its aggressive cryptocurrency positioning. In May, the company 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. The widening quarterly deficits highlight the financial strain from the company's substantial cryptocurrency investments, which continue to trade well below their original purchase prices as the company systematically liquidates its bitcoin holdings.
