Trump Media, after advocating Bitcoin reserves... secretly 'sold' amid $450 million loss

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Trump Media & Technology Group is once again disposing of a large amount of its held Bitcoin, increasing volatility in the virtual asset market.

On May 22 (local time), virtual asset specialized media CoinGeek reported, citing an X (formerly Twitter) post by on-chain analyst Lookonchain, that Trump Media & Technology Group abruptly sold 2,650 BTC worth $205 million. According to data from blockchain data analysis platform Santiment, the company transferred its held Bitcoin to the Crypto.com exchange. Previously, Santiment data indicated that Trump Media & Technology Group had purchased 11,542 BTC worth $1.37 billion at an average unit price of $118,522. However, after transferring 2,000 BTC worth $175 million at a price of $87,378 four months ago, they have now made an additional sale. The company's current holdings have decreased to 6,888.87 BTC, and the unrealized losses from its Bitcoin holdings alone are estimated to be approximately $455 million.

This sudden movement of funds occurred shortly after former U.S. President Donald Trump's virtual asset-friendly policy stance and a White House virtual asset advisor confirmed "groundbreaking progress" regarding attracting U.S. strategic Bitcoin reserve assets. Trump Media & Technology Group recorded a net loss of $406 million in Q1 2026 due to the virtual asset market crash, ultimately completely withdrawing its plans to launch a Truth Social Bitcoin spot ETF, as well as Ethereum spot ETF and Solana spot ETF. Furthermore, with Kevin Warsh officially taking office today as the Chairman of the U.S. Federal Reserve (Fed), virtual asset investors are now faced with preparing for macroeconomic volatility. The U.S. Senate passed Warsh's appointment as Jerome Powell's successor.

Trump Media & Technology Group has not issued an official statement regarding this Crypto.com transfer, but deposits of virtual assets to an exchange are typically interpreted as a sell signal, intensifying market skepticism. The current Bitcoin price moved between a low of $76,655 and a high of $78,100 over 24 hours before falling back to around $77,600. Trading volume also decreased by 7% compared to 24 hours ago, indicating a weakening of investor buying sentiment. Over the past five days, a total of 9,664 BTC, valued at $744 million, has been deposited to exchanges.

Billionaire Mark Cuban also stated that he sold most of his Bitcoin holdings, saying, "Bitcoin has lost its essence. I always thought Bitcoin was a better version of gold than gold itself." In the derivatives market, profit-taking sales are also surging, with Bitcoin futures open interest retreating to $55.56 billion, a 2.30% decrease from 24 hours ago. Bitcoin futures open interest on the Chicago Mercantile Exchange (CME) and Binance is trending sharply downward again after a short-term rebound.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*