Trump Media Moves 2,650 Bitcoin to Crypto.com, Faces $455 Million Unrealized Loss
Summary
- Trump Media reportedly transferred 2,650 Bitcoin, worth about $205 million, to Crypto.com.
- Trump Media said it bought a total of 11,542 Bitcoin at an average purchase price of $118,522.
- With Bitcoin prices down, Trump Media's Bitcoin investment is estimated to be carrying an unrealized loss of about $455 million.
Forecast Trend Report by Period
Trump Media, the company affiliated with US President Donald Trump, transferred a large amount of Bitcoin to an exchange, a move typically viewed as a precursor to selling.
CoinDesk reported on May 22 that Trump Media recently moved 2,650 Bitcoin to Crypto.com. The holdings are worth about $205 million at current market prices.
Trump Media had previously bought a total of 11,542 Bitcoin at an average purchase price of $118,522 per token.
Bitcoin has since declined and was recently trading around the $70,000 level. As of 10:20 p.m. on May 22, Bitcoin was trading at $77,316, up 0.11% from a day earlier, according to CoinMarketCap.
Trump Media also transferred 2,000 Bitcoin to an exchange about four months ago.
At current prices, Trump Media's Bitcoin investment is estimated to be carrying an unrealized loss of about $455 million.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
