The company also faces a cash-repurchase provision later this month, according to its Nov. 2 securities filing, which said holders of its convertible notes can require repayment on Nov. 30, potentially forcing it to pay roughly $1 billion if all holders exercise that right. The filing warned that if refinancing or other measures prove insufficient, Trump Media may have to sell bitcoin or other digital assets to fund the repurchases.
The latest transfer is equal to about 30% of the roughly 14,139 $BTC Trump Media said it held, including pledged coins, as of July 31. But that figure is from an older disclosure, so it does not prove the company’s bitcoin holdings have fallen.
CoinDesk reached out to Trump Media for a comment on the latest transfer and its coin stash and did not receive a response as of this writing.
Onchain move doesn’t imply selling
Onchain movement of coins is often taken to represent an investor’s intention to sell; however, that’s not always true. Movement alone does not establish a sale.
Still, the latest flow is large enough to draw attention of the market, several blockchain data tracking handles said on X.
“Is this the beginning of a $BTC sell-off? For now, a transfer to an exchange or custodian doesn’t automatically mean the Bitcoin is being sold. Could be a custody move or something else entirely,” EyeOnChain noted. “Still, $343M worth of #$BTC moving is not something the market will ignore.”
