Trump Media Seeks to Mitigate Crypto Losses with New Treasury Strategy
Trump Media, the publicly traded company behind Truth Social and other financial services brands, has reported a $238 million net loss in the second quarter due to unrealized losses on its crypto and securities holdings.
The company held 9,477.16 Bitcoin as of June 30, down from 9,542.16 BTC at the end of the previous quarter. However, Trump Media stepped up its direct Bitcoin exposure in July by selling $159.6 million worth of Bitcoin-related securities and using the proceeds to purchase more Bitcoin.
As a result, the company's Bitcoin holdings increased to approximately 14,139 BTC, worth around $890.5 million at the time, as of July 31.
To manage volatility and improve its balance sheet productivity, Trump Media plans to revamp its digital asset treasury strategy.