Trump Media & Technology Group's latest financial disclosure shows that as of June 30, 2026, the company holds 9,477 bitcoins, valued at approximately $557 million; the claim of holding 14,139 BTC, valued at over $900 million, is inconsistent with the latest public data. The company reported a digital asset-related loss of about $361 million in the first half of the year, mainly due to declines in the prices of Bitcoin and Cronos.

Previously, Trump Media announced in July 2025 that it had purchased approximately $2 billion in Bitcoin and related securities, and allocated an additional $300 million for a Bitcoin options strategy; the company had planned to establish a Bitcoin reserve through $2.5 billion in equity and convertible bond financing. However, on-chain tracking shows that its associated wallets have repeatedly transferred BTC to Crypto.com, with external analyses interpreting some transfers as sales. The company denied that the transfer of 2,628 BTC in early August 2026 was a sale, stating it was a custodial adjustment.

It is necessary to distinguish between three numbers: the end-of-period BTC holdings in the company's financial report, the visible balance in wallets marked by on-chain analysis firms, and the total digital asset exposure including collateral, custodial accounts, or related securities. Trump Media disclosed on March 31 that 4,260.73 BTC were pledged as collateral for convertible notes, restricting withdrawal or distribution; the on-chain visible balance of about 4,261 is close to this pledged amount, but it cannot be concluded that all of the company's BTC has been sold, nor can it be proven that the marked addresses cover all of the company's custodial assets.

Based on 9,477 BTC, Trump Media remains one of the larger corporate Bitcoin holders among publicly traded companies, but its reserve size, book gains and losses, and liquidity are significantly affected by BTC price fluctuations. The operational performance of the company's main businesses, Truth Social, Truth+, and Truth.Fi, has been overshadowed in the capital markets by Bitcoin prices, financing structure, and accounting gains and losses related to crypto assets; investors' valuation of DJT is increasingly approaching a composite pricing of "media business + high-volatility crypto asset balance sheet."

In market mechanics, Trump Media raises capital through issuing stocks and convertible bonds, then converts part of the funds into BTC reserves; shareholders effectively bear the company's operational risks, equity dilution, debt and collateral constraints, and the compounded risks of Bitcoin volatility. If BTC rises, the company's net asset value and financing capacity may improve; if BTC falls, book losses, collateral pressure, and capital market discounts will simultaneously expand. Beneficiaries include custodians, exchanges, underwriting institutions, and Bitcoin liquidity providers; those under pressure are ordinary shareholders who mistakenly view the company's BTC reserves as unleveraged spot ETF exposure.

Source: Public Information