- Trump Media moved 2,650 BTC as total holdings drop below earlier 11,000 BTC peak levels.
- ETF withdrawals and heavy crypto losses raise questions on timing of Trump Media strategy.
- Bitcoin price drop deepens pressure on firm’s crypto-heavy balance sheet and investor confidence.
Trump Media & Technology Group moved 2,650 Bitcoin worth about 32 billion yen to Crypto.com on May 22, according to Arkham blockchain data. The company split the transfer into two parts, sending 449.32 BTC first and 2,201 BTC later. Both transactions moved from Trump Media’s wallet to a Crypto.com-linked address, raising fresh questions about its crypto strategy and timing.
The move adds pressure on the firm’s digital asset holdings as market watchers track its Bitcoin exposure. Arkham data shows Trump Media still holds about 6,889 BTC worth roughly 83 billion yen after the transfer. However, the company held more than 11,000 BTC earlier in 2026.
Bitcoin Strategy Under Pressure
Arkham blockchain records show repeated Bitcoin transfers from Trump Media wallets in recent months. Four months earlier, the company moved 2,000 BTC worth about 175 million dollars. At the time, it described the transfer as a collateral adjustment. However, the latest movement has renewed questions about the company’s intentions.
The timing also matters for market observers. Trump Media withdrew its Bitcoin ETF and Bitcoin-Ethereum ETF applications on May 20 through sponsor Yorkville America.
Additionally, analysts pointed to rising competition from major asset managers. BlackRock and Morgan Stanley now dominate the $57 billion Bitcoin ETF market, leaving less room for new entrants.
Related: Bitcoin Enters Historic “Decision Zone” as Binance Flow Metric Flashes Warning Signal
Financial Strain and Crypto Exposure
Trump Media reported a net loss of about 63.6 billion yen in the first quarter of 2026. The company said most of the loss came from unrealized declines in digital assets and securities. Crypto exposure alone accounted for about 58 billion yen in valuation losses, adding pressure on its balance sheet.
However, the company still reported total financial assets of about 329 billion yen. Cash flow remained positive at 2.8 billion yen during the period. Additionally, Trump Media built much of its crypto strategy around Bitcoin and CRO holdings worth roughly 320 billion yen from earlier purchases.
Bitcoin’s price decline added further strain. CoinMarketCap data shows the asset recently traded near $75,274, down from about 87,378 dollars during earlier accumulation phases. As a result, investors now question the timing of the company’s crypto-heavy strategy and its exposure to market volatility.
Related: Bank of America Boosts Bitcoin ETF Holdings to $37M in Q1 Filing
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