Trump Media's Bitcoin Stash Shrinks by $165M as Losses Mount
Trump Media's Bitcoin stash has shrunk to just $268 million after moving out 7,281 coins worth about $165 million to Crypto.com. The company purchased 11,542 Bitcoins for approximately $1.37 billion at an average price of $118,522 per coin in December.
The latest transfer leaves roughly 4,261 Bitcoins in tagged wallets that closely match the amount pledged as collateral for Trump Media's convertible notes, valued at around $268 million with Bitcoin near $63,000.
Onchain analysts estimate that the sales of these coins have produced about $318 million in realized losses and another $237 million in unrealized losses since December. The company has not clarified whether these transfers are sales or custody moves, which will be revealed in its second-quarter 10-Q filing.