Trump Media & Technology Group is under increasing pressure over its bitcoin strategy as mounting unrealized losses and widening financial deficits raise concerns among investors.
The company recently transferred 2,650 BTC—worth approximately $205 million at current prices—to Crypto.com, according to blockchain data from Lookonchain. The transaction, executed during late U.S. hours, represents another major shift in its digital asset holdings.
Despite speculation that such transfers may signal an intent to sell, the company denied any liquidation. A spokesperson told CoinDesk the movement was part of a broader trading strategy and that no bitcoin had been sold.
Trump Media initially accumulated 11,542 BTC for around $1.37 billion, equating to an average purchase price of $118,522 per coin. The latest transfer follows a similar move roughly four months ago, when the firm shifted 2,000 BTC valued near $175 million at the time, with bitcoin trading around $87,000.
With bitcoin now hovering near $77,000, the company is estimated to be sitting on roughly $455 million in unrealized losses, underscoring the strain on its crypto investment.
The latest move also comes shortly after Trump Media withdrew its application for a spot bitcoin ETF, fueling further uncertainty about its crypto ambitions. Analysts indicated the decision likely reflects weakening economics in the ETF market rather than regulatory hurdles.
Meanwhile, the company’s core financials continue to deteriorate. In May, Trump Media reported a first-quarter net loss of $405.9 million on revenue of just $871,200, a sharp increase from the $31.7 million loss recorded during the same period last year.
Update (May 22, 20:14 UTC): Adds clarification from company spokesperson stating the bitcoin transfer did not involve a sale.
