Trump Media Dumps Another 2,628 BTC, Holdings Down 63% to 4,261 BTC
DJT sits 41% above its 52-week low of $6.96.
Summary
Trump Media sold an additional 2,628 Bitcoin for about $165 million, slashing its total holdings by 63% over seven months to 4,261 BTC. This follows a May transfer of 2,650 BTC and brings cumulative sales to 7,281 BTC at an average price of $74,855. The rapid liquidation of a core asset raises questions about the company's strategy, especially given its Q1 net loss of $405.9 million and a stock price near all-time lows. With the TAE Technologies merger on track for Q4, the shrinking crypto treasury could signal a shift in capital allocation or a need for liquidity.
At the time of this announcement, DJT was trading at $9.78 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $2.7B. The 52-week trading range was $6.96 to $18.97. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Cointelegraph.