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

Former President Donald Trump holds over $32 million in crypto, having gone from a crypto critic to a vocal proponent of digital assets.

Trump’s change in stance is largely attributed to Vivek Ramaswamy, who has been advising the former president. The change is reflected in Trump’s growing crypto holdings.

Donald Trump’s Growing Crypto Holdings

According to data compiled by Arkham Intelligence, Trump’s crypto portfolio has seen a significant increase in value over the past three months. The portfolio peaked at $32 million, driven primarily by the unprecedented meme coin surge. However, besides meme coins, Trump has diversified his holdings across a host of tokens, including TRUMP, TROG, ETH, and WETH. The former president’s largest holding is the TROG token, of which Trump has 210.345 billion tokens, valued at around $21 million. This figure is over half of the TROG token’s total market cap of $36 million, indicating that Trump has allocated a significant chunk of his portfolio to this asset.

TROG is trading at a price of $0.0001, with its value increasing by over 160% after Trump supporters realized his holdings in the asset.

A Closer Look At The Portfolio

Trump began his foray into crypto in 2022 by releasing the Trump Digital Trading Cards NFT collection. The collection was quite successful, selling over 45,000 NFTs at $99 each. Trump then released the “Mugshot Edition” NFT collection, which further boosted his crypto holdings. Both NFT projects allowed Trump to accumulate over 1900 ETH. However, in December 2023, he liquidated 1075 ETH for $2.4 million, retaining over 800 ETH, the value of which is around $3.1 million at current prices.

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

Most of the assets in Trump’s portfolio are from donations and projects airdropping their tokens into his wallet. Besides these, Trump also earns royalties thanks to his NFT collection. However, despite the impressive value of the portfolio, a significant chunk of this wealth is illiquid because of the lack of volume and market depth in some of the meme coins held by Trump. One example is TROG, which has seen a trading volume of just $20 million over the past 24 hours. The high level of liquidity poses significant challenges to Trump when it comes to realizing the full value of his holdings. This means the profits are primarily paper profits.

Meanwhile, Trump’s Ethereum (ETH) holdings amount to 471.79 ETH, valued at around $1.80 million, while his WETH holdings amount to 374.974 WETH, valued at $1.43 million. Other assets in the portfolio include MVP, CONAN, ELON, and BABYTRUMP tokens.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Source link

About The Author

Scroll to Top