Trump Media & Technology Group continues to face mounting pressure on its bitcoin strategy as unrealized losses deepen and financial performance weakens.
The company recently transferred 2,650 BTC—worth about $205 million at current prices—to Crypto.com, according to blockchain data tracked by Lookonchain. The transaction, which took place during late U.S. trading hours, marks another notable shift in the firm’s digital asset holdings.
While such transfers to centralized exchanges are often interpreted as a precursor to selling, the company pushed back on that narrative. A spokesperson told CoinDesk that the bitcoin was moved as part of a broader trading strategy and not liquidated.
Trump Media initially built its position by acquiring 11,542 BTC for roughly $1.37 billion, at an average price of $118,522 per coin. The latest transfer follows a similar move about four months ago, when the company shifted 2,000 BTC—then valued near $175 million—while bitcoin traded around $87,000.
With bitcoin currently hovering near $77,000, the company is now estimated to be sitting on approximately $455 million in unrealized losses, reflecting the gap between market prices and its acquisition cost.
The transfer also comes shortly after Trump Media withdrew its application for a spot bitcoin ETF, raising further questions about its long-term crypto ambitions. Analysts suggested the decision was likely driven more by weakening economics in the ETF market than by regulatory hurdles.
At the same time, the company’s financials are under increasing strain. In May, Trump Media reported a first-quarter net loss of $405.9 million on revenue of just $871,200—marking a sharp deterioration from the $31.7 million loss recorded in the same period last year.
Update (May 22, 20:14 UTC): Includes statement from company spokesperson clarifying the purpose of the bitcoin transfer.
