- Trump Media transferred another 2,650 BTC to Crypto.com worth roughly $205 million
- The company is now estimated to be down about $455 million on its Bitcoin position
- The move follows Trump Media’s recent withdrawal of its spot Bitcoin ETF application
Trump Media & Technology Group just transferred another 2,650 BTC to Crypto.com, adding more pressure and speculation around the company’s increasingly controversial Bitcoin strategy. At current prices, the transaction is worth roughly $205 million, with blockchain tracking data showing the transfer occurred during late U.S. trading hours.
The move follows a previous transfer of 2,000 BTC roughly four months ago, meaning the company has now shifted more than 4,600 BTC out of its original holdings within less than a year.
Trump Media’s Bitcoin Position Is Deep Underwater
Trump Media originally purchased approximately 11,542 BTC for around $1.37 billion, paying an average acquisition price near $118,522 per Bitcoin. With BTC currently trading near $77,000, the company is now estimated to be sitting on unrealized losses approaching $455 million.
That gap has increasingly placed the company’s crypto strategy under scrutiny, especially as Bitcoin continues trading well below the levels where Trump Media aggressively accumulated its position.
The latest transfer has fueled fresh debate over whether the company may be preparing partial liquidations, restructuring custody arrangements, or simply repositioning assets operationally. No official explanation has been provided so far.
The ETF Withdrawal Added More Questions
The timing also matters because the transfer arrives shortly after Trump Media withdrew its application for a spot Bitcoin ETF. Analysts suggested the decision appeared tied less to regulatory issues and more to worsening economics inside the increasingly crowded Bitcoin ETF market.
Between mounting unrealized losses and the abandoned ETF effort, investors are beginning to question how aggressively the company still plans to pursue its crypto expansion strategy moving forward.
Financial Pressure Is Growing Fast
Trump Media’s broader financial results have also come under significant strain. In May, the company reported a Q1 net loss of roughly $405.9 million on revenue of just $871,200, a dramatic increase from the $31.7 million loss reported during the same period last year.
Much of the damage came from mark-to-market losses tied to Bitcoin and other crypto holdings rather than direct operating losses. Still, the numbers reinforced how heavily the company’s balance sheet now depends on crypto market performance.
For now, the latest $205 million transfer only adds another layer of uncertainty around one of the market’s most closely watched corporate Bitcoin positions.
