Former President Donald Trump may be better known for his various endeavors, but his involvement in the cryptocurrency world still flies under the radar.
Recent revelations have revealed Trump’s cryptocurrency portfolio, providing insight into his digital assets.
Using blockchain analysis, Arkham Intelligence identified Trump’s wallet address by cross-referencing his financial disclosures. The analysis revealed not only Trump’s holdings, but also those of companies ranging from Tesla Inc. to Snoop Dogg.
Trump entered the cryptocurrency space in late 2022 when his name and likeness were utilized to promote and sell a collection of Trump digital trading card non-fungible tokens (NFTs). Through this venture, Trump earned over 1,700 Ethereum (ETH) and Wrapped ETH (WETH) tokens.
At the end of 2023, Trump liquidated some of his ETH holdings, transferring 1,075 ETH to Coinbase and likely selling them.
However, Trump’s most significant cryptocurrency investment is in MAGA Coin (TRUMP), a meme coin supporting the former president. Initially, 580,000 TRUMP tokens were transferred to Trump’s wallet, which was a significant amount at the time. However, the value of TRUMP soared in 2024 due to the meme coin craze and increased media attention to Trump.
The price of TRUMP skyrocketed from less than a cent upon launch to an all-time high of $11.56 within six months, representing a massive price increase of nearly 150,000%. As a result, Trump’s TRUMP tokens, which were initially worth a few thousand dollars, swelled into a small fortune, reaching peaks of over $6.7 million and then around $3 million.
However, recent market fluctuations have taken a toll on Trump’s cryptocurrency portfolio. Over the past week, TRUMP has seen a significant decline of over 15%, while ETH has also fallen by about 12%. As a result, Trump’s holdings plummeted by more than $1 million in just seven days.
On April 11, Trump’s cryptocurrency portfolio was worth $6.6 million, and by April 16 it had declined to $5.4 million, a loss of more than $1.2 million, or more than 18%.
These losses have fueled speculation about Trump’s next move. This downturn could be a temporary setback, but it could also be a sign of trouble for the future of TRUMP Coin. Moreover, there is uncertainty as to whether Trump is aware of his cryptocurrency holdings. If Trump recognizes the potential decline in token value and recognizes his position, he may choose to sell as he did before.
Featured Image: Freepik
Please see disclaimer