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Home»TRADING NEWS»Former US President Donald Trump holds more than $32 million in cryptocurrency
TRADING NEWS

Former US President Donald Trump holds more than $32 million in cryptocurrency

By Crypto FlexsJune 7, 20243 Mins Read
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Former US President Donald Trump holds more than  million in cryptocurrency
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Former President Donald Trump has gone from a cryptocurrency critic to a digital asset advocate, holding more than $32 million in cryptocurrencies.

The change in President Trump’s position is largely influenced by Vivek Ramaswamy, who has advised Trump. This change is reflected in Trump’s increased cryptocurrency holdings.

Donald Trump’s Growing Crypto Holdings

Trump’s cryptocurrency portfolio has increased significantly in value over the past three months, according to data compiled by Arkham Intelligence. Driven by an unprecedented surge in meme coins, the portfolio hit a high of $32 million. However, in addition to meme coins, Trump has diversified his holdings across a variety of tokens, including TRUMP, TROG, ETH, and WETH. The former president’s largest holding is the TROG token, of which Trump holds 210.345 billion tokens, worth about $21 million. This figure is more than half of the total market capitalization of TROG tokens of $36 million, indicating that Trump has allocated a significant portion of his portfolio to this asset.

TROG is trading at a price of $0.0001, and its value has increased by more than 160% since Trump supporters recognized their holdings.

Take a closer look at our portfolio

Trump began his foray into the cryptocurrency market in 2022 with the launch of the Trump Digital Trading Card NFT Collection. The collection was so successful that it sold over 45,000 NFTs for $99 each. Trump then released his “Mugshot Edition” NFT collection to further increase his cryptocurrency holdings. Both NFT projects allowed Trump to accumulate over 1900 ETH. However, in December 2023, he liquidated 1075 ETH for $2.4 million, leaving him with over 800 ETH, worth about $3.1 million at current prices.

Another key component of Trump’s cryptocurrency portfolio is MAGA Coin (TRUMP). MAGA coins together with Trog account for over $27 million. MAGA Coin was the first cryptocurrency project to send tokens to Trump’s portfolio, with the project team sending 580,000 tokens to the former president. The initial value of these tokens was only a few thousand dollars. However, the value soared as the price of each MAGA token exceeded $17. Now the value of these tokens has decreased, but Trump still holds about $8 million worth of MAGA.

Impressive but illiquid portfolio

Most of the assets in Trump’s portfolio come from donations and projects that airdrop tokens into his wallet. Apart from this, Trump also earns royalties thanks to his NFT collection. However, despite the impressive value of the portfolio, much of this wealth is illiquid due to the lack of trading volume and market depth for some of Trump’s meme coins. One example is TROG, which had a trading volume of just $20 million in the last 24 hours. High levels of liquidity present significant challenges for Trump in realizing the full value of his holdings. This means that the profits are mainly paper profits.

Meanwhile, Trump’s Ethereum (ETH) holdings amount to 471.79 ETH (equivalent to approximately $1.8 million), and his WETH holdings amount to 374.974 WETH (equivalent to approximately $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 provided or intended to be used as legal, tax, investment, financial or other advice.

Investment Disclaimer

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