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Trump Media Stock Dips After $20M Q2 Loss, Bitcoin Strategy Highlights Earnings Report
- Trump Media & Technology Group (TMTG) posted a US$20 million net loss in Q2 2025, largely due to US$15 million in legal fees from its prolonged SPAC merger, causing shares to drop nearly 4%.
- Despite the loss, TMTG confirmed it holds US$2 billion in Bitcoin and related securities, making it the fifth-largest public company BTC holder in the US.
- The firm also earmarked US$300 million for an options-driven strategy targeting Bitcoin, aiming to convert options into spot BTC for revenue or long-term treasury holdings.
Trump Media & Technology Group, parent of Truth Social and a recent entrant into corporate Bitcoin treasury investing, posted a US$20M (AU$30.1M) net loss for Q2 2025, sending its shares down nearly 4 % on Friday.
Roughly US$15M (AU$23M) of that loss was tied to legal fees from the company’s protracted 2024 SPAC merger, a deal that stretched to 29 months, far longer than the norm for reverse takeovers. Funny enough, the firm is now suing its SPAC sponsor and two Truth Social co‑founders, alleging misconduct that delayed the transaction.
Anyway, the stock closed today at US$16.92 (AU$26.09), a 3.81% decrease in the last 24 hours and nearly 13% in the week. Frankly, the chart looks rough—no matter which timeframe you pick.
That leaves Trump Media, the majority owned by none other than the US President Donald Trump, with a market cap of about US$4.6B (AU$7.11B).
Related: Ripple Faces Scrutiny Over Bank Partnership Claims as CTO Responds to Transparency Concerns
Moving On
Despite the loss, the firm confirmed it now holds US$2B (AU$3.02B) in Bitcoin and Bitcoin‑linked securities, making it one of the largest BTC treasuries of any US‑listed company.
The disclosure appeared in its Q2 2025 earnings release, which also highlighted US$3.1B (AU$4.70B) in total financial assets and the firm’s first‑ever quarter of positive operating cash flow. That consists of trading securities, cash, cash equivalents, etc.
The US$2B figure combines spot Bitcoin with indirect exposure via exchange‑traded funds, Bitcoin trusts, and derivatives designed to track BTC prices without requiring direct custody. This hybrid approach, the company says, is meant to “balance liquidity with market exposure”.
Trump Media has also earmarked US$300 (AU$463M) for an options‑driven strategy targeting Bitcoin and related assets. Under this program, options could be converted into spot BTC “depending on market conditions”, with the resulting positions either sold for revenue or added to the treasury for longer‑term holding.
Related: Australian Analyst Says White House Crypto Report Could See Increasing Bitcoin Volatility
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Author
José Oramas
José is a journalist and translator with a keen interest in blockchain and cryptocurrencies.
