Trump Media transfers $174 million in Bitcoin after recent acquisition
- Trump Media and Technology Group moved approximately 2,000 bitcoin, valued at about $174 million.
- The company increased its holdings to 11,542 BTC just before the transfer.
- Around $12 million of the transferred bitcoin reached Coinbase Prime Custody, indicating treasury operations.
- The move follows a purchase of 451 BTC reported by blockchain tracker Lookonchain.
- Despite these movements, Bitcoin’s price remained stable between $86,000 and $87,000 over the past day.
- Trump Media’s equity has risen over 30% in the last five trading days, now trading around $14.
The recent transfer of bitcoin by Trump Media reflects active management of its digital assets rather than a simple sale or liquidation. This activity coincides with a notable increase in the company’s stock value and ongoing interest in expanding into financial products.
Overall, Trump Media’s strategic movements include managing over 11,500 BTC, highlighting their focus on digital asset operations amidst rising equity values.(Source)
