Trump Media & Technology Group, the parent company of Truth Social, moved another 2,650 BTC to Crypto.com in a transfer worth about $205 million at a bitcoin price near $77,341. On-chain data cited by Lookonchain showed the deposit took place late in U.S. evening hours, putting fresh attention on the company’s crypto strategy.
A transfer to a centralized exchange is often read by the market as a possible sign of selling. The company said that was not the case here. In a statement to CoinDesk, a spokesperson said TMTG transferred, but did not sell, some of its BTC holdings as part of a broader trading strategy.
High Entry Price Leaves the Position Deep Underwater
Trump Media originally bought 11,542 BTC for about $1.37 billion, implying an average purchase price of roughly $118,522 per bitcoin. The latest move follows another transfer four months earlier, when the company moved 2,000 BTC valued at around $175 million as bitcoin traded close to $87,378.
After the newest transfer, the company’s bitcoin holdings are estimated to be sitting on a paper loss of about $455 million. The math is simple: bitcoin remains well below Trump Media’s average acquisition cost.
Transfer Comes Days After ETF Filing Withdrawal
The on-chain movement came only days after Trump Media withdrew its application for a spot bitcoin ETF, adding to questions about how far the company plans to push into crypto investment products. ETF analysts said the withdrawal appeared to reflect weakening economics across the spot bitcoin ETF segment rather than a structural or regulatory obstacle.
The company’s financial results have also come under pressure. In May, Trump Media reported a first-quarter net loss of $405.9 million on revenue of just $871,200, compared with a net loss of $31.7 million in the same period a year earlier. That gap has sharpened scrutiny of its aggressive crypto positioning.