Trump Media transfers $165M in Bitcoin
- Trump Media transferred 2,628 Bitcoin worth about US$165 million to Crypto.com, but the company said the transaction was not a sale.
- Publicly tracked Trump Media wallets held about 4,261 BTC worth roughly US$268 million after the transfers.
- The movement continues Trump Media's use of Crypto.com as part of its broader Bitcoin treasury and digital asset strategy.
Trump Media & Technology Group transferred 2,628 Bitcoin (CRYPTO) worth about US$165 million to Crypto.com in two transactions.
Lookonchain characterised the transfers as a likely sale, but Trump Media later said the Bitcoin was transferred and had not been sold.
The transfers left publicly attributed Trump Media wallets holding about 4,261 BTC worth roughly US$268 million, according to on-chain data.
Trump Media previously bought 11,542 BTC, while Cointelegraph reported an average acquisition price of US$118,522 per Bitcoin based on Lookonchain data.
Following the announcement, the Trump Media share price was down 5% at US$9.86 at Friday's close and fell to US$9.78 after hours.
Trump Media-linked wallets previously transferred 2,650 BTC worth about US$205 million to Crypto.com on 22 May, with the company also denying a sale.
Trump Media uses Crypto.com alongside Anchorage Digital as custodians for its Bitcoin treasury and has pursued other digital asset initiatives with Crypto.com.
At the time of reporting, Bitcoin price was $63,349.14.
