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Donald Trump Owns Millions of Dollars in Crypto, But He’s Not Risking His Own Money on These Altcoins
Donald Trump Owns Millions of Dollars in Crypto, But He’s Not Risking His Own Money on These Altcoins
While former President Donald Trump made a name for himself through his business and real estate deals, he is currently profiting from cryptocurrency investments. These investments span every corner of the crypto spectrum and have been extremely profitable in 2024.
But Trump did not directly invest in these assets himself. Instead, he received most of them from fans and projects related to him.
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Arkham Intelligence obtained information regarding Trump’s crypto holdings. The company combines blockchain analysis with financial records to locate the wallets of specific people and companies.
Trump received his first crypto tokens at the end of 2022 following the release of Trump Digital Trading Cards non-fungible token (NFT) collection. The project used Trump’s name, image and likeness to distribute 45,000 NFTs priced at $99 each. Trump received royalties on the initial sale as well as a small portion of secondary market trading volumes. The project has performed quite well compared to the rest of the NFT market. The floor price of the project well exceeds $200.
Trump received more than 1,700 Ethereum (ETH) and Wrapped Ether (WETH) of the project. In December 2023, Trump sent 1,075 ETH to Coinbase where he likely sold it. At the time, ETH was trading at around $2,300 and Trump received $2.4 million in proceeds. Trump currently holds around 800 tokens between ETH and WETH, worth around $2.5 million.
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This is the only time Trump has sold any of his crypto holdings. However, another token in his portfolio has performed extremely well in recent months, raising questions about whether Trump would sell more in the future.
The most important position in Trump’s portfolio is MAGA Coin (ASSET). The token, launched in August, rose from less than 1 cent to a high of over $11.50 in March. During the launch, the project’s creators sent 580,000 tokens to Trump as part of a marketing scheme and to thank the former president. At the time, the tokens were worth a few thousand dollars.
As TRUMP’s popularity exploded, the price skyrocketed. At its peak, Trump’s 580,000 tokens were worth more than $6.7 million. TRUMP’s price has since fallen, but the position is still worth more than $2.7 million.
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Trump holds more than 60 other tokens, most of which are meme coins and are worth between $1 and $1,000 and represent only a very small portion of the overall holdings. Trump’s cryptocurrency wallet is worth over $5.6 million, but this number constantly changes with the value of the tokens in the wallet.
Trump made millions of dollars in gains essentially for free, with the potential to make millions more if he sold the other tokens in his portfolio.
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This item Donald Trump Owns Millions of Dollars in Crypto, But He Won’t Risk His Own Money on These Altcoins originally appeared on Benzinga.com
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