Trump Media (DJT) Moves To Sell Bitcoin As Losses Reach $455 Million
Trump Media transfers 2,650 Bitcoin valued at $205 million as it faces $455 million in losses, signaling a potential sale of its digital assets.
In a surprising move that has raised eyebrows in the cryptocurrency community, Trump Media and Technology Group (Nasdaq: DJT) has transferred 2,650 Bitcoin—worth approximately $205 million—to Crypto.com. This transfer, which took place on May 22, 2026, is viewed as a likely precursor to a sale of the company’s digital asset holdings.
Why Is Trump Media Selling Bitcoin?
The transfer of Bitcoin by Trump Media comes amid significant financial struggles for the company. With Bitcoin trading between $77,000 and $77,300 during the transfer, the company faces an estimated loss of around $455 million on its original Bitcoin investments. This is because Trump Media initially purchased 11,542 Bitcoin for about $1.37 billion, at an average cost of $118,522 per coin.
What Do We Know About The Transfer?
According to on-chain data from blockchain analytics firm Lookonchain, the transfer consisted of two transactions conducted between approximately 1:22 a.m. and 2:22 a.m. GMT on May 22. These transactions originated from wallets identified as belonging to Trump Media, as per Arkham Intelligence. Currently, Trump Media holds an estimated 6,889 to 6,892 Bitcoin, valued at approximately $533 million based on current market prices.
Are Other Moves in Play?
This isn't the first time Trump Media has moved its Bitcoin assets. Just four months ago, the company shifted 2,000 Bitcoin—valued at around $175 million at that time—characterizing it as a collateral move. The recent transaction, however, signals a more urgent liquidity strategy.
How Do Recent ETF Withdrawals Factor In?
Interestingly, the Bitcoin transfer follows the company's withdrawal of applications for a spot Bitcoin ETF and a combined Bitcoin-Ethereum ETF from the U.S. Securities and Exchange Commission on May 20. This withdrawal was attributed to a decision made by Yorkville America, the company’s fund sponsor, who decided not to pursue the public offering “at this time.” Analysts suggest that intensified competition from bigger players like BlackRock and Morgan Stanley in the burgeoning $57 billion Bitcoin ETF market played a significant role in this decision.
What’s Happening Financially at Trump Media?
The predicament extends beyond just cryptocurrency. In its first-quarter 2026 earnings report, Trump Media announced a staggering net loss of $405.9 million, from just $871,200 in revenue—a significant increase from a loss of $31.7 million from the same period a year earlier. This financial decline is largely attributed to approximately $368.7 million in non-cash unrealized losses related to digital assets and equity securities.
How Are Investors Reacting?
Following these developments, DJT shares have decreased by around 60% over the past year, trading between $7.95 and $8.15 just days ago. Despite the challenges, Trump Media continues to see cryptocurrency as a central part of its financial strategy, but the execution hasn't translated into positive outcomes.
- Trump Media has transferred 2,650 Bitcoin to Crypto.com, likely signaling an impending sale.
- The company faces $455 million in unrealized losses, with Bitcoin's current value significantly beneath its original purchase price.
- The latest transaction follows a withdrawal of ETF applications, potentially influenced by competitive pressures from larger entities.
- Trump Media reported a staggering $405.9 million loss in Q1 2026, emphasizing the challenges they face in maintaining financial stability.
As the situation unfolds, it’ll be interesting to see how Trump Media navigates its cryptocurrency holdings amid turbulent market conditions. A potential sell-off of its Bitcoin may affect not just the company's fortunes but also the broader sentiment in the cryptocurrency space. If you're looking to make moves in crypto, consider checking out competitive rates on exchanges like Binance, Bybit, Bitget, OKX, and MEXC for exclusive bonuses.