Trump Media & Technology Group (TMTG), the publicly traded company behind Truth Social and majority-owned by President Donald Trump, moved 2,650 Bitcoin worth approximately $205 million into Crypto.com this evening, according to on-chain data.

Market observers believe the latest deposit could indicate a potential sale. It marks the second major outflow from Trump Media’s Bitcoin treasury in the past four months.

Earlier in 2026, the company sold 2,000 Bitcoin when prices were around $87,000 per coin. TMTG originally purchased 11,542 BTC at an average cost of roughly $119,000 each and reported holding 9,542 BTC by the end of Q1 2026.

The company’s wallet is now estimated to hold approximately 6,889 Bitcoin valued near $534 million. If the suspected transaction reflects an actual sale, the company would fall behind Galaxy Digital to become the 17th-largest corporate Bitcoin holder.

When Trump Media bought in

Trump Media built this Bitcoin treasury between roughly July and August of last year, when Bitcoin was trading near all-time highs. The strategy echoed what Strategy pioneered years earlier: using a public company’s balance sheet to accumulate Bitcoin as a reserve asset.

The difference is that Strategy’s Michael Saylor started buying when Bitcoin was around $11,000. Trump Media started at six figures.

TMTG posts massive Q1 loss as Bitcoin holdings weigh on results

Trump Media reported a first-quarter net loss of roughly $406 million, according to a new SEC disclosure, as unrealized losses tied to digital assets and investments weighed heavily on results.

The largest impact came from approximately $244 million in unrealized losses associated primarily with Bitcoin holdings, in addition to about $108 million in losses from equity securities and investment positions.

The company also disclosed ownership of 756 million Cronos tokens acquired through a prior agreement with Crypto.com. Those holdings are presently valued at approximately $53 million.

TMTG’s equity securities portfolio declined from $722 million at year-end 2025 to $554 million by the end of Q1 2026. These investments produced an additional $162 million in unrealized losses, though the company offset part of the decline through $37 million in options gains and $17 million in realized derivative profits.