Trump Media Reports Significant Net Loss Due to Failed Crypto Investments

Trump Media, a company owned by the family of former U.S. President Donald Trump, reported significant financial losses in the first quarter of last year. According to recent announcements, the company incurred a net loss of $405.9 million (approximately 600 billion Korean won) from January to March.

The primary cause of this deficit is attributed to failed cryptocurrency investments, which accounted for 90% of the total net loss. Specifically, Trump Media's holding of bitcoins has lost value due to declining prices. As reported by CoinGecko, the company currently holds 9,542 bitcoins with an average purchase price of $118,529 per coin.

However, as bitcoin prices have dropped significantly this year, the value of these digital assets has fallen from a peak of $1.131 billion to approximately $770.93 million, representing a decrease of 31.8%. This loss is substantial, considering that Trump Media held onto its digital assets despite previous attempts to cut losses by selling some of them in February.

Additionally, the company's stock price has also experienced a sharp decline, from $97.54 per share in early 2022 to $8.93 as of four years later, representing only a tenth of its original value.