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 about $205 million, with bitcoin trading at approximately $77,341 per share. token. Blockchain data shows the deposit took place in the late US evening hours, according to Lookonchain, marking the latest significant movement in the company’s holdings of digital assets.
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 swapped out 2,000 BTC worth about $175 million at a time when bitcoin was trading near $87,378.
After the latest transaction, Trump Media is now estimated to be down about $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 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 and more by deteriorating economies across the spot bitcoin ETF sector.
The company’s financial performance has 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, up significantly from a $31.7 million loss reported in the same period a year earlier.
