Trump Media and Technology Group has transferred close to 2,000 bitcoin, worth about $174 million, in a multi-step wallet shuffle, according to chain analysis, active management for its swelling crypto treasury rather than the more passive hold strategy.
The transfers happened almost within a week after reports indicated that the firm increased its bitcoin holdings to 11,542 BTC. According to data from Onchain, as much as $12 million worth of the bitcoin were transferred to Coinbase Prime Custody, as the remainder was divided into other wallets seemingly owned by the same owner.
The structure of the transfers suggests a reshuffling of reserves rather than an outright sale. Coinbase Prime Custody is commonly used by institutions for secure, long-term storage, and the transfers into custody platforms reflect internal treasury operations like a reorganization of cold storage, the consolidation of wallets, or adjusting custodial arrangements.
The timing is noteworthy: Just a day earlier, blockchain tracker Lookonchain reported that Trump Media bought an additional 451 BTC. The recent sequence of inflows followed by wallet movements suggests the company is actively managing its bitcoin position as it scales its exposure.
Bitcoin's market price barely moved in response to the activity. The asset remained within a tight window of $86,000 - $87,000 over the last 24 hours, despite broader crypto sentiment softening into year end. Scant volatility indicates traders didn't view the transfers as sell pressure.
It's pretty common for corporate holders of bitcoin to relocate assets following new buys, changes in policy, or adjustments to the custody strategy. So, moves around like this among companies that use bitcoin as a treasury asset rather than as a short-term trade is common.
The on-chain activity also coincides with renewed interest in Trump Media's broader strategy. The company's stock is up more than 30% over the past five trading days, changing hands near $14, according to public market data. The rally has brought increased attention to the firm's initiatives beyond social media, including its expansion into financial products and digital assets. As bitcoin continues to trade below the key $90,000 level, market participants are keeping attention on institutional flows and balance sheet decisions, with Trump Media's recent activity adding another data point to the evolving landscape of corporate crypto adoption.
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