Trump Media Transfers Large Amount of Bitcoin to CryptoCom Exchange

Recently released on-chain data reveals that Trump Media & Technology Group has made a substantial Bitcoin transaction. According to the data from Lookonchain, the company transferred 2,650 BTC worth approximately $205 million to the CryptoCom exchange.

This transfer is not an isolated incident for Trump Media, as they also made a significant purchase in the past. The company had purchased a total of 11,542 BTC at an average cost of $118,522, indicating a substantial investment in Bitcoin. Prior to this latest transfer, Trump Media had transferred approximately 2,000 BTC worth around $175 million four months ago when the Bitcoin price was significantly lower.

As a result of this recent transaction, Trump Media is estimated to still hold around 6,889 BTC. Given the current market prices, this investment is expected to yield an unrealized loss of approximately $455 million for the company.