On August 2, Trump Media-linked wallets moved 2,628 Bitcoin, worth approximately $165 million, to Crypto.com, according to blockchain analytics from Lookonchain. This transfer left about 4,261 BTC remaining in wallets tracked to the company.
Despite the sizable movement, Trump Media has not confirmed whether this was a sale. Deposits to exchanges can signal many things: from an impending sale to collateral assignments or internal transfers. So far, no official statements or SEC filings have clarified the nature of this transaction.
Lookonchain's data shows Trump Media initially purchased 11,542 BTC at an average price of $118,522 per coin, spending around $1.37 billion. Seven months ago, the company started selling, offloading 7,281 BTC for a total of $545 million at an average price of $74,855. If the recent transfer was a sale, the company would have sold another 2,628 BTC, deepening its total realized and unrealized loss to roughly $555 million.
The March quarterly report from Trump Media listed 9,542.16 BTC on hand, with a cost basis of $1.131 billion but a market valuation of just $647.1 million. It also disclosed that 4,260.73 BTC were held as collateral for convertible notes, which cannot be moved until certain contract terms are met, no later than May 29, 2028. The remaining BTC in the wallets aligns closely with the collateral amount.
This detailed snapshot reveals the company’s Bitcoin holdings have declined significantly in value but have not yet recorded material realized losses. The lack of confirmation from Trump Media leaves questions open about whether the recent transfer reflects another sale or some other internal maneuver.
This material is informative and not investment advice.
