Trump Media and Technology Group (NASDAQ: $DJT) has reported a $360.6 million U.S. loss on its cryptocurrency holdings for this year’s first half.
The parent company of Truth Social also reported that its Bitcoin (CRYPTO: $BTC) holdings shrank during the second quarter of the year.
The company backed by U.S. President Donald Trump and his family held 9,477 Bitcoin
valued at $557.1 million U.S. as of June 30, according to its earnings report.
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That’s down from 9,542 BTC owned at the end of March this year. The company’s Bitcoin holdings declined by 65 tokens in the second quarter.
A big share of Trump Media’s Bitcoin was pledged as collateral, with 4,260 BTC pledged against convertible notes and another 2,077 tokens pledged for a Bitcoin options strategy.
Trump Media cited “prevailing market conditions and shifting business and stakeholder priorities” as the reason for its crypto losses.
In all, Trump Media & Technology Group reported a net loss of $238 million U.S. for its fiscal second quarter on revenue of less than $2 million U.S.
DJT stock has declined 46% in the last 12 months to trade at $9.39 U.S. per share.
Bitcoin is trading at $64,260 U.S. on Aug. 11.
Disclaimer : This story is auto aggregated by a computer programme and has not been created or edited by DOWNTHENEWS. Publisher: finance.yahoo.com
