Trump Media moves 2,650 BTC (about $205M) to Crypto.com
Trump Media & Technology Group, owner of Truth Social and majority-held by the Donald J. Trump Revocable Trust, has transferred 2,650 Bitcoin—worth roughly $205 million—to a Crypto.com wallet, according to on-chain trackers.
Blockchain monitoring services Lookonchain and Arkham flagged the movement from addresses tied to Trump Media into a Crypto.com deposit address. Arkham data indicates the BTC remains on the exchange for now, a setup consistent with a potential sale, though it does not confirm one.
The transfer follows an earlier move this year, when Trump Media sent 2,000 BTC (about $175 million) to exchanges while Bitcoin traded near $87,378. At the time of the latest deposit, BTC was around $77,700.
Trump Media originally accumulated 11,542 BTC at an average cost of about $118,522 per coin, implying roughly $1.37 billion in total spend. After the earlier 2,000 BTC transfer, the company's disclosed holdings were 9,542 BTC. With the latest 2,650 BTC transfer, the visible on-chain balance falls to about 6,889 BTC.
In its Q1 2026 filing, Trump Media reported a Bitcoin cost basis of about $1.13 billion and a fair value of roughly $647 million as of March. The gap contributed to a reported net loss of $405.9 million for the quarter, including $368.7 million tied to unrealized markdowns on digital assets, pledged crypto assets, and equity securities. The company also holds about 756 million Cronos tokens through its partnership with Crypto.com.
Large exchange inflows often draw trader attention because they can indicate potential selling pressure. Still, $205 million is small relative to Bitcoin's daily spot and derivatives turnover, which runs into the billions. Market impact would depend on execution: selling directly on exchanges can move prices more than off-exchange disposal through over-the-counter desks.
More broadly, companies that bought Bitcoin at higher prices face mounting pressure, even as on-chain data points to resilient long-term holding. Recent analytics suggest more than 70% of circulating BTC has not moved in over a year, a dynamic that can cushion markets against episodic large-holder selling.
The deposit puts Trump Media's crypto-treasury strategy back under scrutiny and keeps the possibility of further sales on the table. Without a sizable exchange-side liquidation, the transfer alone is unlikely to materially shift Bitcoin's wider market given the scale of daily trading and strong long-term holder behavior.
