Trump Media Surpasses Tesla in Bitcoin Holdings Amid Financial Struggles

Trump Media & Technology Group (DJT) has surpassed Tesla in its Bitcoin holdings, according to data from Bitcoin Treasuries. As of August 11th, Trump Media held approximately 12,062 Bitcoins, narrowly surpassing Tesla's 11,509 Bitcoins.

The company's second-quarter results were not as impressive, with a loss of $238 million, a figure that is more than ten times the loss from the same period last year. The main reason for this significant increase in losses was the valuation decline caused by a drop in cryptocurrency prices.

Trump Media's revenue did see an increase, rising 89% to $1.7 million compared to the same quarter last year. However, this growth is overshadowed by the company's financial struggles and legal controversies surrounding its Truth API service.