Summary
- Trump Media & Technology Group said it distributed and transferred approximately 2000 bitcoins to multiple wallets.
- Trump Media now holds 11,542 bitcoins, which are currently valued at US$1,040,000,000.
- Despite the large bitcoin transfers, the market impact was limited, and Trump Media's stock rose more than 30%% over the past 5 trading days.
Trump Media & Technology Group (Trump Media & Technology Group) transferred about 2000 bitcoins.
On the 24th (local time), CoinDesk reported that Trump Media distributed and transferred about 2000 bitcoins to multiple wallets that day. The bitcoins transferred by Trump Media that day are valued at US$174,000,000 (about ₩250 billion) at current prices.
Trump Media is the operator of U.S. President Donald Trump's social media platform 'Truth Social'. CoinDesk said, "(Trump Media) distributed bitcoins across multiple addresses," and added, "This suggests that Trump Media is actively managing its bitcoin holdings rather than simply holding them."
Earlier, Trump Media made an additional bitcoin purchase worth US$40,000,000 (about ₩60 billion) on the previous day (the 23rd). According to on-chain analytics firm LookonChain, this purchase increased Trump Media's bitcoin holdings to 11,542 bitcoins. At current prices, that amounts to US$1,040,000,000 (about ₩1.5 trillion).
Trump Media's large bitcoin transfers appear to have had little impact on the market. According to CoinMarketCap, bitcoin prices traded sideways around US$87,000 that day. CoinDesk said, "This (bitcoin) transfer took place amid a surge in Trump Media's stock," and added, "(Trump Media's) stock rose more than 30% over the past 5 trading days."
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
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