Trump Media Transfers $165M in Bitcoin Without Confirming Sale
Trump Media has transferred 2,628 Bitcoin (BTC) to Crypto.com, valued at approximately $165 million. However, the company has not confirmed whether this transfer represents a sale. According to Lookonchain, Trump Media originally acquired 11,542 BTC for around $1.37 billion in March.
The average cost per coin was $118,522. Over the past seven months, the company has sold a total of 7,281 BTC at an average price of $74,855, resulting in a combined value of about $545 million and a total loss of $555 million. This calculation combines realized losses with the lower market value of remaining coins.
Trump Media's March quarterly filing listed 9,542.16 BTC on March 31, carrying a cost basis of $1.131 billion and a fair value of $647.1 million. The company has pledged 4,260.73 BTC as collateral for convertible notes, which cannot be withdrawn or distributed until May 29, 2028.
The 2,628 BTC transferred to Crypto.com is roughly in line with the pledged amount. However, public wallet labels do not necessarily indicate the accounting or legal status of those coins. Trump Media has yet to confirm whether this transfer represents a sale or an exchange deposit.