Trump Media & Technology Group (TMTG) has executed another significant Bitcoin sale, transferring 2,650 Bitcoin (BTC) worth approximately $205 million to Crypto.com. According to analytics firm Lookonchain, this marks the second major outflow from TMTG's Bitcoin wallets this year, following a previous transfer of 2,000 BTC valued at about $175 million four months ago. The latest deposit represents a continuation of the company's strategy to reduce its substantial Bitcoin holdings, with the timing particularly significant as Bitcoin currently trades far below the company's average purchase price. As reported by Lookonchain, the transfer was detected from wallets linked to Trump Media, the company behind Truth Social and majority owned by the Donald J. Trump Revocable Trust.
TMTG's Bitcoin treasury strategy has resulted in substantial losses, with the company's original 11,542 BTC accumulated at an average cost of $118,522 per coin, representing approximately $1.37 billion in corporate capital deployment. At current market prices, the remaining treasury has fallen well below its entry level, with the latest transfer further reducing the holdings to approximately 6,889 BTC from the previous 9,542 BTC after the first major outflow. As reported in the company's quarterly filings, Bitcoin holdings carried a cost basis of roughly $1.13 billion while their fair value had dropped to about $647 million by the end of March. This represents a significant decline from the company's original position, with the shrinking reserve drawing attention across the crypto market.
The Bitcoin sales have contributed to TMTG's challenging financial performance, with the company reporting a $405.9 million net loss for Q1 2026, with $368.7 million of this loss stemming from unrealized markdowns on digital assets, pledged crypto assets, and equity securities. The company also maintains 756 million Cronos (CRO) tokens valued at about $2.64 million as part of its broader treasury strategy, though these holdings have not been affected by the recent Bitcoin transfers. The timing of these losses is particularly concerning as they coincide with the company's continued reduction of its Bitcoin treasury, with the market weakness since the first transfer making the latest outflow even more costly.
The next on-chain settlement window will provide crucial clarity on whether the latest transfer represents another confirmed sale, as reported by Lookonchain. Exchange transfers do not always confirm a sale, but the pattern of consistent outflows suggests TMTG is actively reducing its Bitcoin exposure. Large exchange inflows such as these can create temporary fear among traders because visible supply on an exchange order book may act as a potential resistance zone, though the $205 million transfer remains relatively small compared with Bitcoin's multi-billion dollar daily spot and derivatives trading volume. Market analytics suggest that more than 70% of Bitcoin's circulating supply has remained unmoved for over a year, indicating that long-term investors have continued holding through the current downturn.
