Trump Media Sells 2,650 BTC for $205M as Institutional Selling Weighs on Crypto

Trump Media and Technology Group has sold part of its Bitcoin position as losses tied to digital assets deepen and institutional selling continues to pressure the crypto market. Blockchain analytics firm Lookonchain said the company moved 2,650 BTC, valued at about $205 million, suggesting a sizable disposal while Bitcoin trades far below its 2025 peak. Onchain data indicates Trump Media previously accumulated 11,542 BTC for roughly $1.37 billion at an average price of $118,522 per coin. Four months ago, it moved 2,000 BTC worth about $175 million when Bitcoin was near $87,000. With Bitcoin around $77,000, the remaining holdings are estimated to be down nearly $455 million. The crypto-related drawdown adds to broader financial strain. In its Q1 earnings report earlier this month, Trump Media reported losses of more than $402 million, including about $244 million tied to digital asset exposure. Shares are down about 40% year to date and nearly 67% over the past 12 months. The pullback is not isolated. Kulr Technology Group reportedly sold 300 BTC earlier this year for $23.3 million as market conditions worsened. Analysts say U.S.-based investors have recently been net sellers of Bitcoin. Market indicators also point to weak demand. The Coinbase Premium Index has been mostly negative over the past month, signaling softer U.S. institutional appetite and persistent sell-side pressure. Even MicroStrategy, long associated with a "never sell" approach, has hinted at more flexibility. The company agreed to repurchase $1.5 billion of its 2029 convertible notes and suggested Bitcoin sales could help fund the buyback. Analysts expect continued institutional selling to keep downward pressure on Bitcoin and raise volatility across the broader market, with further liquidations potentially undermining confidence as companies face margin and balance-sheet constraints.