#اخبار_الكريبتو_العاجلة #عملات_رقمية #اقتصاد_رقمي #wct $BTC
Trump Media Company recorded a loss of $54.8 million in
the third quarter, despite its gains from cryptocurrency assets.
The company owns 11,542 Bitcoins worth approximately $1.3 billion, along with 746 million Kronos tokens.
Trump Media & Technology Group announced accumulated losses in the third quarter, despite achieving positive returns on its cryptocurrency investments. The parent company of 'Truth Social' reported a net loss of $54.8 million, nearly three times the loss of the same period last year, which was $19.3 million. Revenues fell to $972,900 compared to over a million dollars previously, reflecting operational difficulties despite the ambitious acquisition of digital assets.
Cryptocurrency holdings showed mixed results
By the end of September, the company had collected 11,542 Bitcoins, valued at approximately $1.3 billion at market trading. Trading options related to Bitcoin generated realized income of $15.3 million, representing relief considering the broader operational losses. Trump Media also holds more than 746 million Cronos tokens, resulting in unrealized gains of $33 million, as the trading price of the blockchain asset was around $0.18.
The company's management remains optimistic about expansion strategies, and its CEO, Devin Nunes, confirms that holding cryptocurrencies has ensured the financial stability of the company. Trump Media acquired high-cap companies with a total of $1.5 billion from stock sales and $1 billion from convertible bonds. Its Bitcoin buyback program was launched in May after the company planned for this step earlier in the year.
The CRO strategy for Trump Media Group was a partnership with Crypto.Com, aiming to purchase up to $1 billion worth of Cronos tokens, equivalent to over 6.3 trillion units. Management focused on achieving positive operating cash flows over two semesters, alongside income from digital assets, as a means to prepare the financial situation for potential acquisitions.
Investors remain concerned about cryptocurrency profits, and the company's stock fell by 1.73% on Friday, closing at $13.10. The company's stock has decreased by 61% since the end of the year, compared to its balance sheet which increased by $274 million to reach $3.1 billion. Trump Media is still considering mergers and acquisitions and is working to diversify its investments in cryptocurrencies beyond Bitcoin to include other related digital currencies$BTC
