Trump Media shifted 2,628 Bitcoin, worth approximately $165 million on August 2, sending the coins to Crypto.com according to blockchain auditors Lookonchain. Although this transfer significantly reduced the private wallets associated with Trump Media to about 4,261 BTC, no official paperwork yet confirms an actual sale.
Tracking the Bitcoin Exodus
Back in March, Trump Media declared it controlled 9,542.16 BTC, with 4,260.73 BTC tied up as collateral for secured convertible notes. Lookonchain's analysis shows the entity has offloaded around 7,281 BTC over the past seven months. Using the original acquisition price near $1.37 billion and average cost of $118,522 per coin, the on-chain analyst estimates combined realized and unrealized Bitcoin losses reaching roughly $555 million amid these transfers.
Collateral Pledged and Remaining Balances
Trump Media’s latest SEC filing from the end of Q1 sets a more concrete framework. It notes no net change in BTC holdings during that quarter but reveals that the collateral for convertible notes cannot be withdrawn until indenture conditions lapse, scheduled no later than May 29, 2028. The post-transfer balance aligning closely with the pledged 4,261 BTC suggests most remaining coins are locked up in that debt arrangement. Meanwhile, the movement to Crypto.com could be a precursor to various actions, including custodial shifts or collateral repositioning, not necessarily an outright sale.
This is informational content and not financial advice.
