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Trump Media Sells Another $165M in Bitcoin, Booking a Fresh Loss

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Data shared by Lookonchain earlier today suggests that Trump Media, the entity behind the Truth Social media platform, majority-owned by the Donald J. Trump Revocable Trust, has sold over $165 million worth of bitcoin.

This was the second substantial sale made by the entity in recent months after it had splashed over $1 billion at prices near the top last year to accumulate 11,542 units.

The on-chain analytics company noted that the latest offload was for 2,628 BTC after it had transferred the stash to crypto.com. This continued a streak that began earlier this year.

Previously, the entity had spent $1.37 billion to acquire 11,542 BTC at an average price of $118,522. Since its entry level was very close to bitcoin’s very top marked just under a year ago, this automatically means that its sales have been completed at prices well below that.

CryptoPotato a raportat the previous BTC disposal in May, when wallets linked to Trump Media sold another substantial batch of 2,650 BTC for $205 million.

Lookonchain’s data concurs that the entity has sold a total of 7,281 BTC since it began disposing of its assets, at an average price of under $75,000. This means that its total losses have grown to $555 million.

Aside from the continuous controversial decisions toward the crypto industry from the POTUS-linked companies, this move builds on a recent worrisome trend about BTC treasury firms deciding to sell during times of distress.

As we a raportat last week, several public companies have shifted their strategies, with some selling BTC holdings while others have paused buying the asset indefinitely.

Postul Trump Media Sells Another $165M in Bitcoin, Booking a Fresh Loss a apărut prima dată pe CryptoPotato.

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