Key facts
- Trump Media sold 2,628 Bitcoin worth approximately $165 million.
- The company transferred the Bitcoin to Crypto.com.
- Trump Media's total Bitcoin sales over seven months amount to 7,281 BTC.
- The company's remaining Bitcoin holdings are 4,261 BTC.
- Lawmakers are discussing the CLARITY Act, which addresses digital asset ownership and ethics.
Trump Media & Technology Group, the company operating Truth Social, has continued its strategy of selling off its Bitcoin holdings. The company transferred another 2,628 Bitcoin, valued at approximately $165 million, to Crypto.com, according to blockchain analytics platform Lookonchain. This latest transaction brings the total amount of Bitcoin sold by Trump Media over the past seven months to 7,281 BTC, estimated to be worth about $545 million. Following these sales, the company's remaining Bitcoin holdings stand at 4,261 BTC, valued at $269.8 million. Lookonchain noted that Trump Media had initially acquired 11,542 BTC at an average price of $118,522. The ongoing Bitcoin sales occur amidst broader scrutiny of Trump-linked crypto ventures, with lawmakers currently debating the Digital Asset Market Clarity (CLARITY) Act. This legislation aims to address ethics rules, digital asset ownership, and potential conflicts of interest for public officials, though it does not mandate the sale of existing crypto assets.