According to Benzinga’s news article, the cryptocurrency project backed by former President Donald Trump has hit a roadblock. At first, Trump’s involvement in the crypto world brought him profits, but later market fluctuations caused his investments to plummet dramatically.
In his initial year of involvement with cryptocurrency, the business tycoon saw significant income from royalties derived from his personally owned NFT collection, Trump Digital Trading, earning him approximately 1,800 Ether.
Additionally, he gained significantly from the MAGA Coin meme project, which was introduced during his prosperous period in 2023. The initial value of the donated 579,289 MAGA Coins amounted to a few thousand dollars.
Prior to the election, the coins were valued at under $2.5 million, representing a small portion (around 47%) of his overall portfolio worth $5.3 million. Post-election, however, their value has surpassed $2.5 million and now constitute nearly all (approximately 96%) of the investor’s $5.3 million portfolio.
During the election campaign, the value of the MAGA Coin in his investment portfolio hit a high of $8.5 million, making it his most significant asset at that time. However, the price of the MAGA Token has experienced a significant decrease (a 61% drop) over the past month.
Despite the volatility causing Trump’s cryptocurrency holdings to amount to just $3 million, not all of these investments came directly from his personal funds.
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2024-04-09 03:16