“The movement follows inflows into wallets tied to Trump Media, implying the company is actively managing its bitcoin position rather than leaving it static.”, — write: www.coindesk.com
The transfers routed the bitcoin across multiple addresses, with around $12 million ultimately reaching Coinbase Prime Custody, according to blockchain data tracked by CoinDesk on Arkham.
The remainder is held in other wallets that appear to be linked to the same entity, suggesting a reshuffle of reserves rather than a one-way move toward an exchange.
The activity does not, on its own, signal a sale. Coinbase Prime Custody is a storage product designed for institutions, and custody transfers can reflect treasury operations like reorganizing cold storage or consolidating wallets. Assets in custody can remain parked there for long periods without being traded.
The timing is notable, coming one day after blockchain tracker Lookonchain said the company bought 451 BTC, implying Trump Media, the owner of the Truth Social social-media platform, is actively managing its bitcoin position rather than leaving it static.
Corporate holders often move assets between wallets for operational reasons, particularly after new purchases, internal policy changes, or custodial transitions.
Bitcoin’s price showed little immediate reaction to the movement. The token traded near $86,000 to $87,000 in the past 24 hours, a range that has held even as broader crypto sentiment has softened into year-end.
Traders have been watching flows and positioning closely, with recent market action showing bitcoin struggling to hold key psychological levels above $90,000.
The onchain transfers also come as Trump Media’s equity has rallied. The shares are up more than 30% over the past five trading days, according to Google Finance, trading around $14.
The move has coincided with renewed attention on the company’s strategy beyond social media, including its push into financial products and digital assets.
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The largest deals of the year included Coinbase’s $2.9 billion acquisition of Deribit, Kraken’s $1.5 billion purchase of NinjaTrader, and Ripple’s $1.25 billion buyout of Hidden Road.
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