Former US President Donald Trump Holds Over $32 Million In Crypto

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As a researcher with a background in finance and economics, I find Donald Trump’s growing crypto holdings to be an intriguing development. The former president’s change of stance on crypto from critic to proponent is noteworthy, especially given the significant increase in value of his portfolio over the past few months.

As a researcher, I’ve uncovered that former President Donald Trump now owns more than $32 million worth of cryptocurrencies. Previously known for his criticism towards digital assets, Trump has since become an advocate for crypto.

As a researcher studying recent political developments, I’ve noticed that Vivek Ramaswamy, an advisor to the former president, Trump, appears to have significantly influenced his shift in stance on certain issues. This transformation is evident in Trump’s increasing involvement with cryptocurrencies, as demonstrated by his growing crypto holdings.

Donald Trump’s Growing Crypto Holdings

Based on information gathered by Arkham Intelligence, the crypto holdings of Trump have experienced notable growth over the past quarter, reaching a maximum value of $32 million. The primary cause of this rise was the extraordinary surge in meme coins. However, Trump’s investments extend beyond meme coins, encompassing various tokens such as TRUMP, TROG, Ethereum (ETH), and Wrapped Ethereum (WETH). Among these, Trump holds an impressive 210.345 billion tokens of TROG, worth approximately $21 million. This substantial portion of his portfolio, representing over half of the TROG token’s total market capitalization of $36 million, underscores Trump’s considerable investment in this asset.

As a researcher studying the cryptocurrency market, I’ve come across TROG, which currently trades at a price of a penny or $0.0001. Surprisingly enough, its value has experienced a significant surge of more than 160% following the revelation that Trump supporters have holdings in this asset.

A Closer Look At The Portfolio

In the year 2022, I, Trump, embarked on my crypto journey by launching the Trump Digital Trading Cards NFT collection. This venture proved to be fruitful, selling a remarkable number of 45,000 NFTs for $99 each. Following this success, I introduced the “Mugshot Edition” NFT collection, which added significantly to my crypto assets. These two NFT projects enabled me to amass approximately 1900 ETH. However, in December 2023, I decided to cash out 1075 ETH, earning a substantial sum of around $2.4 million. Presently, the value of my remaining 800 ETH is estimated to be roughly $3.1 million.

Another major component of Trump’s crypto portfolio is MAGA Coin (TRUMP). MAGA Coin, along with Trog, accounts for over $27 million. MAGA Coin was the first crypto project that sent tokens to Trump’s portfolio, with the project’s team sending 580,000 tokens to the former president. The initial value of these tokens was only a few thousand dollars. However, their value skyrocketed, with the price of each MAGA token reaching over $17. While the value of these tokens has now declined, Trump still holds around $8 million worth of MAGA.

An Impressive Yet Illiquid Portfolio

Trump’s wealth from his crypto portfolio mainly comes from donations and projects that have aired their tokens into his wallet, in addition to earnings from his NFT collection. A substantial portion of this fortune remains illiquid due to insufficient trading volume and market depth in certain meme coins he owns, such as TROG, which recorded only $20 million in trade over the last day. The scarcity of liquidity imposes considerable difficulties for Trump when attempting to cash out his investments fully, resulting in mostly unrealized gains. In other words, much of his profit remains on paper.

At present, Trump’s Ethereum (ETH) collection is worth approximately $1.8 million, comprised of 471.79 ETH units. Additionally, his WETH holdings amount to roughly $1.43 million, represented by 374.974 tokens. His portfolio further includes various other assets such as MVP, CONAN, ELON, and BABYTRUMP tokens.

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2024-06-07 01:07