Trump Media Transfers 2,650 Bitcoins as Losses Reach $455 Million

Trump Media & Technology Group (DJT) has made a significant move in its cryptocurrency portfolio by transferring 2,650 Bitcoin to Crypto.com. According to on-chain data tracked by blockchain analytics firm Lookonchain, the transfer occurred between 1:22 a.m. and 2:22 a.m. GMT on May 22.

The transfer is worth approximately $205 million at current prices, with Bitcoin trading around $77,000 to $77,300. This move is seen as preparation for a potential sale of the company's digital asset holdings, following significant losses of $455 million.

Trump Media originally purchased 11,542 BTC for approximately $1.37 billion at an average acquisition price of $118,522 per coin. With Bitcoin trading below its cost basis, the company is now estimated to be sitting on roughly $455 million in unrealized losses on its cryptocurrency holdings.