# Trump Media Pledged 11,385 Bitcoin

> Trump Media's $1 billion note demand could force Bitcoin sale as it holds 15,649 BTC.
- Title: Trump Media Pledged 11,385 Bitcoin · 24/7 Wall St. | Shortify
- Summary: Trump Media's $1 billion note demand could force Bitcoin sale as it holds 15,649 BTC.
- Keywords: trump media, bitcoin, convertible notes, 10-q, options strategy, trump media shares, tae technologies, cryptocurrency, 24/7 Wall St.
- Source: 24/7 Wall St. — https://247wallst.com/investing/cryptocurrency/2026/11/10/trump-media-pledged-11385-bitcoin-could-a-1-billion-note-demand-force-it-to-sell
- Author: Sam Daodu
- Published: 2026-11-10T18:24:15+00:00
- Read time: 2 min
- Topics: trump media, bitcoin, convertible notes, 10-q, options strategy, trump media shares, tae technologies, cryptocurrency
## Trump Media Pledged 11,385 Bitcoin
Trump Media pledged 11,385 Bitcoin as part of an options strategy and holds another 4,264 BTC unpledged, according to its third-quarter 10-Q filed on November 9, 2026.
## Total Bitcoin Holdings
Trump Media's total Bitcoin holdings amount to 15,649 BTC, with 11,385 pledged and 4,264 unpledged.
## $1 Billion Convertible Notes
Trump Media carries $1 billion of zero-coupon convertible senior secured notes due May 29, 2028, which can be redeemed for cash on November 30.
## Net Income and Non-Cash Gains
Trump Media reported net income of $409.7 million, mostly from $496.1 million in non-cash gains on digital assets and securities.
## Bitcoin Price and Stock Performance
Bitcoin trades around $74,429, down 1.3% over the past 24 hours and 10.4% over the last month, while Trump Media shares rose 7.1% to $4.35 in early trading.
## Unpledged Bitcoin Value
The 4,264 unpledged BTC, valued at $356.3 million, fell from 9,542 BTC at the end of 2025 to 4,264 BTC as of September 30.
## No Bitcoin Sale Mentioned
The quarterly report did not specify how Trump Media would meet a cash demand and made no mention of selling Bitcoin.
## Treasury Management Strategy
Management pointed to 'more disciplined, institutional management' of its treasury to keep long-term exposure to Bitcoin while handling market volatility.
## On-Chain Data Concerns
Wallets tagged '2028 Convertible Notes Collateral' sent 4,259 BTC to Crypto.com, raising concerns about a potential sale.
## Market Conditions for Bitcoin
Bitcoin trades below its 20-day moving average of $78,621 and 50-day average of $81,641, pressuring any firm that needs cash from its Bitcoin.
## Potential Bitcoin Sale
A full cash demand could push Trump Media to sell or hand over some of its Bitcoin, but it would likely tap the 4,264 unpledged BTC first.
## 8-K Filing Outcome
The clearest signal will come from an 8-K filing after November 30 detailing how much principal holders redeemed and how Trump Media paid.
## Key takeaway

Trump Media holds 15,649 Bitcoin but may not sell to repay $1 billion convertible notes due May 2028.