Trump Media Transfers $205 Million in Bitcoin but Maintains It Has Not Sold Holdings Amid Rising Losses
By Helene Braun | Edited by Stephen Alpher
Published May 22, 2026, 1:08 p.m. | Updated May 22, 2026, 8:19 p.m.
Trump Media & Technology Group (TMTG), the parent company of Truth Social, has moved a substantial amount of bitcoin worth approximately $205 million to the cryptocurrency exchange Crypto.com. Despite this significant transfer, the company emphasized that it has not sold the assets, even as its crypto investment strategy faces mounting scrutiny due to considerable unrealized losses and expanding financial deficits.
Substantial Bitcoin Movement Raises Questions
According to blockchain tracking data, the company transferred 2,650 bitcoin tokens to Crypto.com during late U.S. evening hours. At present market rates—around $77,341 per bitcoin—this transaction corresponds to roughly $205 million. While moving bitcoin to centralized exchanges can sometimes indicate an intent to liquidate holdings, a spokesperson for Trump Media told CoinDesk, “TMTG transferred, but did not sell, some of its BTC holdings as part of its larger trading strategy.”
This latest transfer adds to an earlier move conducted approximately four months ago, when TMTG shifted 2,000 bitcoin out of its wallets. That previous batch was valued at roughly $175 million at the time, when bitcoin prices hovered near $87,378. ### Heavy Crypto Losses and Financial Pressures
Trump Media purchased a total of 11,542 bitcoin in the past at an average price of approximately $118,522 per bitcoin, investing around $1.37 billion overall. Given current market prices significantly below that acquisition cost, the company is now facing an estimated unrealized loss of about $455 million on its bitcoin holdings.
These challenges come alongside the company’s announcement in early May of a staggering first-quarter net loss amounting to $405.9 million, compared to just $871,200 in revenue. This marks a sharp deterioration from a net loss of $31.7 million during the same period last year, highlighting growing financial pressures.
Withdrawal from Bitcoin ETF Application
Adding to the uncertainty around its crypto ambitions, Trump Media recently withdrew its application to launch a spot bitcoin exchange-traded fund (ETF). Industry analysts indicated the withdrawal was likely influenced more by unfavorable economic conditions within the spot bitcoin ETF sector rather than regulatory or structural issues. This decision underscores mounting challenges for the company’s broader cryptocurrency strategy.
Outlook Amid Turbulence
As Bitcoin continues to trade far below the purchase price TMTG paid, the company must balance its crypto portfolio management with ongoing operational losses. While Trump’s firm insists transfers to Crypto.com are part of a broader trading strategy rather than sales, market watchers will remain attentive to future movements in the company’s digital asset holdings.
The evolving situation highlights the ongoing risks companies face when heavily invested in volatile cryptocurrencies, especially when paired with broader fiscal instability.
About Trump Media & Technology Group
TMTG is the parent company of Truth Social, former President Donald Trump’s social media platform. It has diversified into cryptocurrency investments as part of its broader business activities.
For more cryptocurrency news, market updates, and analysis, stay tuned to CoinDesk.