Donald Trump now owns over $32 million in crypto. Why did he change his mind about it? What’s in his portfolio? Keep reading to find out.
Former US President Donald Trump has significantly invested in cryptocurrencies, now holding over $32 million in various digital assets.
Donald Trump’s Early Investments in Crypto
Trump’s interest in the crypto market began in 2022 with the launch of his Trump Trading Cards NFT collection.
This was a considerable success, with 45,000 NFTs sold at $99 each. The follow-up ‘Mudshot Edition’ NFTs further boosted his crypto portfolio, allowing Trump to amass over 1900 ETH from these projects.
In December 2023, he sold 1,075 ETH for $2.4 million, retaining over 800 ETH, which is now valued at more than $3.1 million.
See Also: 6 NFT Trading Cards You Should Buy in 2024
Detailed Holdings of Donald Trump
A large part of Trump’s crypto wealth is gotten from two meme coins: MAGA Coin and Trog (TROG), which together account for over $27 million of his portfolio.
His crypto holdings are spread across several tokens, including ETH and WETH, but the dominance of these meme coins is notable.
MAGA Coin
MAGA Coin was the first project to really contribute to Trump’s portfolio. In August 2023, the project’s founders transferred 580,000 tokens to Trump, initially worth only a few thousand dollars.
The value of MAGA Coin skyrocketed to over $17.5 million at its peak. Although the price has since dropped, Trump’s holdings still represent nearly $8 million.
Trog
Trog is the largest single asset in Trump’s portfolio, with 210.345 billion tokens valued at $21 million. This amount constitutes over half of Trog’s total market cap of $36 million, indicating Trump’s huge stake in the project.
Despite its value, Trog is ranking outside the top 2,500 tokens by market cap. The token’s value surged by over 160% in the last 24 hours following the discovery of Trump’s investment by his supporters.
The strategic airdrop of TROG, which gave Trump half of the token’s total supply, appears to be a calculated move to improve his public profile. This tactic has been beneficial for the projects, as placing tokens in Trump’s wallet has garnered increased visibility.
See Also: Breaking: Mt Gox Exchange Has Made Huge Bitcoin Transfers To An Unknown Crypto Wallet
TRUMP Token
Another significant holding is the TRUMP token, valued at $7.61 million. Trump holds 579.29 thousand TRUMP tokens, each priced at $13.13.
Liquidity Concerns
Despite the impressive total value of Trump’s crypto portfolio, a significant portion of this wealth is considered illiquid. This is primarily due to the limited market depth and trading volume of some of the meme coins he holds.
For example, Trog had a trading volume of only $20 million in the past 24 hours, which could pose challenges if Trump were to attempt liquidating his holdings at full value.
Trump’s current involvement in the crypto market marks a stark contrast to his earlier views.
In a 2021 interview, Trump advocated for strict regulation of cryptocurrencies, arguing that the dollar should remain the world’s dominant currency.
However, his recent actions and investments show a more supportive attitude toward the crypto industry. Trump now emphasizes the importance of the United States leading in cryptocurrency investments.
Conclusion
Trump’s investments in the crypto space shows a remarkable transformation in his perspective.
Initially he was skeptical and advocating for regulation, but he has now become an important player in the crypto market, with holdings surpassing $32 million.
His diversified portfolio, mainly dominated by meme coins, show his strong intrest in the industry.
While liquidity remains a concern for some of his assets, Trump’s influence and the visibility he brings to these meme coins is very significant.
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