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.
While moving bitcoin to a centralized exchange can sometimes signal an intention to sell, the firm told CoinDesk that isn’t the case. “TMTG transferred, but did not sell, some of its BTC holdings as part of its larger trading strategy,” according to a spokesperson.
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 moved out 2,000 BTC, valued at roughly $175 million at the time, as bitcoin traded 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.
UPDATE (May 22, 20:14 UTC): Adds statement from a Trump Media spokesperson.