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Trump Media-linked wallet shifts Bitcoin, marking about $455 million unrealized loss

CoinDesk cited onchain data showing a wallet tied to Trump Media moved part of its Bitcoin holdings in two transactions early May 22. The company has not disclosed the activity or issued a statement, leaving unclear whether the transfers reflect a sale, a collateral adjustment, or an internal wallet reshuffle. Blockchain analytics firm Lookonchain said the two transfers occurred between 1:22 and 2:22 GMT on May 22. Arkham Intelligence labels the related addresses as connected to Trump Media wallets. Data cited in the report indicates Trump Media previously acquired 11,542 BTC for roughly $1.37 billion, implying an average cost of about $118,522 per coin. At the time of the transfers, bitcoin traded around $77,000 to $77,300. Onchain holdings now appear to have fallen to about 6,889 to 6,892 BTC, with the currently visible position valued near $533 million. Based on market prices at the time of the transfer, the position implies an unrealized loss of about $455 million, highlighting the gap between the company's cost basis and current market levels even as it remains unknown whether any coins have been sold. This is not the first Bitcoin move tied to Trump Media. About four months ago, the company transferred 2,000 BTC, worth roughly $175 million at the time, and later characterized the transaction as a collateral movement rather than a direct sale. Trump Media's losses widened sharply in the first quarter of 2026. Disclosures show revenue of $8.712 million and a net loss of $405.9 million, compared with a $31.7 million net loss a year earlier. The increase was largely attributed to unrealized losses on digital assets and equity securities, totaling about $368.7 million. The report also noted the company previously pulled plans tied to a Bitcoin ETF. Analysts cited in the piece said the decision appears driven more by competitive pressure than regulatory hurdles. Trump Media has not issued an official statement on the latest onchain transfers and has not confirmed whether they correspond to a sale.
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