Trump Media passes Tesla in Bitcoin holdings, posts $238M quarterly loss
Trump Media & Technology Group (Nasdaq: DJT) told investors it lost $238 million in the second quarter, even as its Bitcoin stash grew large enough to overtake Elon Musk’s Tesla.
The $238 million loss is more than ten times the company’s reported loss in the same period last year. The main cause of the losses is falling crypto prices.
DJT overtakes Tesla
Bitcointreasuries.net now lists DJT at roughly 12,062 BTC, worth about $774.6 million as of August 11, just above Tesla’s holdings of 11,509 BTC, which have remained flat for years.
Trump Media now occupies the 12th spot among public-company bitcoin holders.
In its Form 10-Q, Trump Media reported about 14,139 BTC as of July 31. That number includes every Bitcoin the company has promised to someone else, not just the ones it fully controls.
Bitcointreasuries.net removed 2,077 BTC from the total because it was posted as collateral for a covered-options strategy.
The filing says the counterparty “can rehypothecate at their sole discretion” those coins and any Bitcoin premiums it receives. Coins backing the firm’s $1 billion convertible notes stay in the tally, since that collateral remains recognized as Trump Media’s own.
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