Trump Media Transfers $205M in Bitcoin as BTC Slides Below $78,000

Donald Trump's 2024 campaign pitched an aggressively pro-crypto agenda, but the rollout has drawn criticism as Trump-linked projects continue to offload digital assets, at times at a loss. Blockchain analytics firm Lookonchain reported that Trump Media, operator of the Truth Social platform and majority owned by the Donald J. Trump Revocable Trust, moved more than $200 million worth of Bitcoin to Crypto.com, a partner it has worked with previously. The latest transfer totals 2,650 BTC, valued at about $205 million. Lookonchain said Trump Media acquired 11,542 BTC for $1.37 billion at an average price of $118,522. Four months ago, it moved out 2,000 BTC worth $175 million at an average price of $87,378. The newly reported deposit comes as Bitcoin trades below $78,000, implying the recent transfers were executed well under the group's purchase cost. The data suggests Trump Media's Bitcoin holdings have fallen to roughly $455 million, down sharply from the $1.37 billion spent to build the position last year, after accumulating during a rally that saw BTC approach $120,000. The activity follows other recent sell-offs tied to Trump-linked crypto efforts. Reports have said WLFI holders dumped 1.8 billion tokens. Earlier, teams behind the TRUMP and MELANIA meme coins sold most of their holdings after both tokens dropped more than 90% from their all-time highs.