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What coins does he hold?
Trump’s Crypto Fortune Grows With $500,000 Windfall: What Coins Does He Hold?
Donald Trump has gotten involved in cryptocurrencies over the past few years, raking in millions and generating largely profitable investments. Most of these gains were made in 2024 due to the price increase of many crypto assets, as well as smaller projects gaining popularity. Additionally, Trump made huge gains in early May after speaking positively about cryptocurrencies to his supporters.
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Trump took a break from the ongoing trial to host an NFT event for supporters of his “Trump Digital Trading Cards ‘Mugshot Edition'” NFT collection. Customers who purchased 47 or more NFTs, priced at $99 each, were invited to join Trump at Mar-a-Lago for dinner and hear him talk about cryptocurrency.
The dinner inevitably resulted in several viral moments that were shared on social media. The cryptocurrency community is eagerly awaiting a definitive position from Trump. For some traders, issues surrounding cryptocurrencies are extremely important ahead of the upcoming presidential election. So some in the cryptocurrency community were happy to hear it. Trump’s Comments on Crypto at the event.
“The Democrats are very opposed to it. [crypto]. And I say this, a lot of people are very much in favor of that…and I’m okay with that. I want to make sure it’s good and sturdy…but I’m okay with that. If you like crypto in any form, and it comes in many different forms, you better vote for Trump,” he said.
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The comments received millions of views on social media, causing some cryptocurrencies to surge in price. For Trump, the biggest gain was MAGA Coin (TRUMP). The token, created in August 2023, is a memecoin that uses Trump’s name to attract investors. Additionally, according to the project’s marketing director Steven Steele, the token has “evolved into this kind of de facto election betting market for many investors.”
Additionally, the project sent Trump 580,000 tokens when they released the token. At the time, TRUMP was worth less than $0.01 and the position was worth only a few thousand dollars. However, TRUMP’s price reached $11.56 in March, and Trump’s position is now worth millions.
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It is therefore not surprising that the price of the TRUMP token increased following the former president’s comments. The price of the MAGA token rose from below $4.20 to above $7.30 in less than three hours after the comments were posted. This caused the price to increase by more than 70%, and Trump’s total holding increased from $2.4 million to more than $4.2 million. The token’s price has since fallen, but Trump still holds more than $500,000 in unrealized gains on the token.
In addition to TRUMP, the wallet also contains ETH and WETH, which were received from the NFT project, as well as over 50 other small memecoins.
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This item Trump’s Crypto Fortune Soars With $500,000 Windfall: What Cryptocurrencies Does He Hold? originally appeared on Benzinga.com
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