Trump Media and Technology Group (TMTG) transferred 2,650 bitcoins (BTC) worth approximately $205 million to Crypto.com.
This deposit represents the second major inflow from TMTG’s Bitcoin wallets this year. This movement was flagged by analytics firm Lookonchain, although exchange transfers do not always confirm a sale.
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TMTG’s Bitcoin treasury sank deeper under the cost basis
Trump Media originally raised 11,542 bitcoins at an average cost of $118,522 per coin, deploying approximately $1.37 billion of company capital originally.
However, Bitcoin is currently trading near $77,700, leaving the holding about 34% below its entry price. The position now reverses An unrealized deficit of approx $455 million.
TMTG’s first major outflow occurred four months ago, when 2,000 bitcoins, worth about $175 million, left the company’s wallets at $87,378 per coin, according to Lookonchain data.
The company’s official treasury figure fell to 9,542 BTC following the move, according to its first-quarter earnings disclosure. The new transfer of 2,650 BTC reduced the inventory to approximately 6,889 BTC.
the The deposit follows $406 million Net loss announced earlier this month. Of this number, $368.7 million came from unrealized write-downs on digital assets and securities.
TMTG also holds 756 million Cronos (CRO) tokens, worth approximately $2.64 million, as part of a broader treasury strategy.
The next on-chain settlement window should indicate whether The last transfer ends in the last Confirmed sale.
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this post Trump Media’s Bitcoin stock shrinks again with 2,650 BTC arriving at Crypto.com appeared first on BeInCrypto.
