Trump Media transfers 2,628 BTC, worth $165M, to Crypto.com, suspected of further BTC sell-off

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On August 2, Trump Media (DJT) transferred 2,628 BTC, valued at $165 million, to Crypto.com, according to on-chain analyst Yu Jin. The transfer, which occurred six hours before the report, has fueled speculation of a potential BTC sell-off. This follows the sale of 7,281 BTC this year for $545 million at an average price of $74,860 per BTC, resulting in a $318 million loss. The company still holds 4,261 BTC, worth $268 million, with an unrealized loss of $237 million. Total BTC-related losses now exceed $555 million. BTC dominance remains under pressure amid ongoing liquidations.

ChainThink reports that on August 2, on-chain analyst Yujin monitored that Trump Media (DJT), the publicly traded company owned by Trump, transferred 2,628 BTC to Crypto.com approximately six hours ago, valued at around $165 million, seemingly preparing to sell off additional BTC.

Transferring tokens to a trading platform often suggests an intention to sell, but it cannot yet be confirmed that this BTC transaction has been completed.

From July to August last year, Trump Media raised funds through the issuance of stock and convertible bonds, then purchased 11,542 BTC at an average price of $118,529, for a total investment of approximately $1.368 billion.

This year, the company has gradually sold 7,281 BTC, cashing out approximately $545 million at an average selling price of about $74,860, resulting in a loss of approximately $318 million.

Currently holds 4,261 BTC, valued at approximately $268 million, with an unrealized loss of about $237 million; based on the above figures, its cumulative BTC investment loss amounts to approximately $555 million.

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