Trump Media Shares React To On-Chain Bitcoin Signals As Company Denies $40 Million Purchase (UPDATED)
(Editor’s note: An earlier version of this article stated that Trump Media and Technology Group had purchased more than $40 million worth of Bitcoin, based on on-chain data. The company later told Benzinga that it did not make any new Bitcoin purchases. The article has been updated to reflect the company’s statement.)
Trump Media and Technology Group (NASDAQ:DJT) said on Tuesday it did not make any new Bitcoin (CRYPTO: BTC) purchases, pushing back against on-chain data that appeared to show the company acquiring more than $40 million worth of BTC.
According to on-chain analytics platform Arkham, the firm, minority-owned by President Donald Trump, bought roughly 451 BTC, worth $40.30 million, from cryptocurrency exchange Crypto.com via 3 transactions.
However, in …
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