Amid speculation that Trump Media (DJT) may have sold 2,628 BTC ($165 million), CoinDesk analyzed that it is highly likely that Trump Media's current holdings only consist of collateral for convertible bonds. Trump Media currently holds 4,261 BTC ($268 million), which is almost identical to the 4,260.73 BTC it reported as collateral for convertible bonds in the first quarter. Trump Media purchased a total of 11,542 BTC (worth $1.37 billion at the time) last year at an average price of $118,522, but later transferred 7,281 BTC externally. Earlier, Lookonchain estimated that Trump Media sold its holdings at an average price of $74,855, realizing a loss of approximately $318 million. The media outlet added, "The sale will likely be confirmed through the upcoming second-quarter disclosure." Meanwhile, Trump Media has stated that the 2,628 BTC deposited to Crypto.com have not been sold.
