Trump Media Dumps Another $165M in BTC, Total Losses Top $555M

Trump Media, the company behind the Truth Social media platform, has made another significant move in reducing its Bitcoin exposure. The entity, majority-owned by the Donald J. Trump Revocable Trust, sold over $165 million worth of BTC, according to data shared by Lookonchain.

This sale marks the second substantial disposal made by Trump Media in recent months. In May, wallets linked to the company sold another large batch of 2,650 BTC for $205 million.

The latest offload consisted of 2,628 BTC transferred to crypto.com, continuing a trend that began earlier this year. Since its entry level was near Bitcoin's all-time high last year, Trump Media's sales have been completed at significantly lower prices.

Lookonchain's data shows that the entity has sold a total of 7,281 BTC since it started disposing of its assets, resulting in average losses of under $75,000 per unit. This means that Trump Media's total losses have grown to $555 million.