PANews November 10 News, according to Cointelegraph, the Bitcoin held by Trump Media & Technology Group is insufficient to support its balance sheet. Due to rising costs, the company’s Q3 financial report shows a loss of $54.8 million. The company revealed last Friday that its net loss for Q3 widened compared to $19.3 million in the same period last year. The company reported revenue of $972,900 for the quarter, down from over $1 million a year earlier. Trump Media’s stock price closed last Friday down 1.73% at $13.10, with a slight rebound after hours to $13.20.
Trump Media reported that as of September 30, it held 11,542 Bitcoin (valued at $1.3 billion at the time). The company first announced in late July that it would start purchasing Bitcoin and disclosed plans to increase holdings further while considering “acquiring other similar cryptocurrencies” in its earnings report. Trump Media realized $15.3 million from its Bitcoin options investments and recorded an unrealized gain of $33 million from holding over 746 million Cronos tokens.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
A trader opened a short position of $27 million in BTC one hour ago, with recent total profits reaching $8.65 million.
BlockBeats News, on March 27, according to Lookonchain monitoring, trader 0xb798 recently profited significantly from shorting Bitcoin twice, with a total profit of 8.65 million dollars.
An hour ago, he opened another short position of 410 Bitcoins, worth 27 million dollars.
BlockBeatNews13m ago
Bitcoin dips under $66K as oil sparks 'unsustainable' US inflation risk
Bitcoin (BTC) neared $66,000 at Friday’s Wall Street open as analysis called US inflation trends “objectively unsustainable.”
Key points:
Bitcoin drops further on oil-supply woes as Iran closes the Strait of Hormuz.
BTC price performance is set to seal its sixth straight month of
Cointelegraph15m ago
