Trump Media (DJT) Moves To Sell Bitcoin As Losses Reach $455 Million

Trump Media & Technology Group (Nasdaq: DJT), the parent company of the Truth Social platform, recently made a significant move in the cryptocurrency space by transferring 2,650 Bitcoin worth approximately $205 million to the exchange Crypto.com. This move has sparked speculation that the company may be preparing for a potential sale of its digital asset holdings.

The transfer, which was confirmed by on-chain data tracked by blockchain analytics firm Lookonchain, took place in two transactions between roughly 1:22 a.m. and 2:22 a.m. GMT on May 22. The Bitcoin originated from wallets labeled as Trump Media accounts by Arkham Intelligence. Despite this transfer, the company has not issued any official statement confirming or denying the intent behind the move.

Initially, Trump Media purchased 11,542 BTC for approximately $1.37 billion at an average acquisition price of $118,522 per coin. However, with Bitcoin trading at around $77,000 to $77,300 at the time of the transfer, the company is currently facing unrealized losses of approximately $455 million on its cryptocurrency holdings. Following the recent transaction, Trump Media’s visible on-chain holdings now stand at an estimated 6,889 to 6,892 BTC, valued at approximately $533 million at current prices.

This is not the first time that Trump Media has moved Bitcoin off its books. Four months ago, the company shifted 2,000 BTC valued at roughly $175 million, which was characterized as a collateral movement at the time.

The latest crypto transfer by Trump Media comes shortly after the company withdrew its applications for a spot Bitcoin ETF and a combined Bitcoin-Ethereum ETF from the U.S. Securities and Exchange Commission on May 20. The company’s fund sponsor, Yorkville America, cited a decision not to pursue the public offering “at this time.”

ETF analysts believe that the decision to withdraw the applications was driven more by competition from established players like BlackRock and Morgan Stanley than regulatory challenges. These established players currently dominate the $57 billion Bitcoin ETF market.

The Bitcoin strategy pursued by Trump Media has coincided with a significant deterioration in the company’s financials. In its first-quarter 2026 earnings report, the company reported a net loss of $405.9 million on just $871,200 in revenue, a substantial increase from a $31.7 million loss during the same period a year earlier. The majority of these losses, approximately $368.7 million, were attributed to non-cash unrealized losses on digital assets and equity securities.

As a result of these financial challenges, DJT shares have fallen by approximately 60% over the past 12 months, currently trading around $7.95 to $8.15. Despite the company’s struggles to generate meaningful advertising revenue, it has continued to place a strong emphasis on cryptocurrency as a core pillar of its financial strategy.

Trump Media, founded in 2021 and headquartered in Sarasota, Florida, faces an uncertain future as it navigates the complexities of the cryptocurrency market and the challenges of building a sustainable business model in the digital age.