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Is Trump Media Dumping Bitcoin at a Loss Again?

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US President Donald Trump made some bold and bullish promises during his election campaign in 2024 for the cryptocurrency industry, but the actual implementation has been controversial to say the least.

Although his team has launched certain digital asset projects and initiatives, such as accumulating BTC for one of their companies, they continue to sell crypto, sometimes even at a loss.

The latest example was reported by Lookonchain. The analytics resource noted that Trump Media, the entity behind the Truth Social media platform, majority owned by the Donald J. Trump Revocable Trust, had sent over $200 million worth of BTC to Crypto.com, with which they have collaborated in the past.

Four months ago, they had transferred $175 million worth of the asset at an average price of $87,378. Today’s reported transfer comes as BTC struggles below $78,000.

However, their accumulation came during the cryptocurrency’s impressive surge when the asset stood close to $120,000. This means the group’s total BTC holdings are down to just $455 million, a significant decline from the $1.37 billion it spent to acquire them last year.

This is far from the first example of Trump-linked cryptocurrency entities disposing of their tokens. Most recently, reports indicated that WLFI holders had dumped 1.8 billion coins. Before that, the teams behind the TRUMP and MELANIA meme coins had sold off the majority of their holdings, as both assets’ prices tumbled by over 90% from their all-time highs.

Pranešimas Is Trump Media Dumping Bitcoin at a Loss Again? appeared first on CryptoPotato.

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