Quick Read – Trump Media abandoned its bitcoin treasury after a $190 million paper loss, with Rumble gaining 4% as investors rotated to crypto-free alt-media. – MSTR sits on a $10 billion bitcoin paper loss and faces forced-selling risk as the corporate crypto treasury model…
ses credibility. – Trump Media & Technology Group (NASDAQ:DJT) stock is down 4% to $7.96 in late-morning trading Monday after the company signaled a retreat from the bitcoin treasury strategy it embraced last year. The move extends a bruising stretch for the stock
Trump Media shares are down 38% year to date (YTD). Over the trailing year, Trump Media stock is down 53%, well below its 52-week high of $18.97. Bitcoin Retreat Sparks the Selloff The catalyst is a strategic pivot back to media and advertising after nearly $200 million in crypto losses, including a reported $190 million paper loss on its holdings.
Trump Media built the position as bitcoin was peaking. Bitcoin (CRYPTO:BTC) has been sliding for more than 10 months, quoted at $63,000 against an all-time high of $126,000. The token is down 46.61% over the past year and down 28.32% YTD, a backdrop that turned Trump Media’s balance sheet bet into a growing drag on earnings.