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Donald Trump owns millions of cryptocurrencies, but does not risk his money on these altcoins
Donald Trump owns millions of cryptocurrencies, but does not risk his money on these altcoins
While former President Donald Trump made a name for himself through business and real estate deals, he currently profits from cryptocurrency investments. These investments span all corners of the crypto spectrum and have been extremely profitable in 2024.
But Trump has not invested directly in the assets. Instead, most of them came from fans and projects related to him.
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Arkham Intelligence obtained information regarding Trump’s crypto holdings. The company combines blockchain analysis with financial documentation to locate the wallets of specific people and companies.
Trump received his first crypto tokens in late 2022 following the release of the Trump Digital Trading Cards non-fungible token (NFT) collection. The project used Trump’s name, image and likeness to distribute 45,000 NFTs priced at $99 each. Trump earned royalties on the initial sale and a small portion from secondary market trading volumes. The project performed quite well compared to the rest of the NFT market. The minimum price for the project is well over $200.
Trump received over 1,700 Ethereum (ETH) and Wrapped Ether (WETH) from the project. In December 2023, Trump sent 1,075 ETH to Coinbase where he likely sold it. At the time, ETH was trading for around $2,300, and Trump received $2.4 million in proceeds. Trump currently holds around 800 ETH and WETH tokens, worth around $2.5 million.
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That was the only time Trump sold any of his cryptocurrency holdings. However, another token in his portfolio has performed very well in recent months, raising the question of whether Trump will sell more in the future.
The largest position in Trump’s portfolio is MAGA Coin (TRUMP). The token, launched in August, rose from less than 1 cent to a high of more than $11.50 in March. Upon launch, the project’s creators sent Trump 580,000 tokens as part of a marketing scheme and to thank the former president. At the time the tokens were worth a few thousand dollars.
As TRUMP’s popularity exploded, the price skyrocketed. At their highest, Trump’s 580,000 tokens were worth more than $6.7 million. TRUMP’s price has since fallen, but the position is still worth over $2.7 million.
The story continues
Trump holds over 60 other tokens, most of which are meme coins and are worth $1 to $1,000 and make up a very small portion of overall holdings. Trump’s crypto wallet it is worth over 5.6 million dollars, but this figure constantly changes with the value of the tokens in the portfolio.
Trump made millions of dollars in gains essentially for free, with the potential for millions of dollars more if he sold the other tokens in his wallet.
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This article Donald Trump owns millions of cryptocurrencies, but does not risk his money on these altcoins originally appeared on Benzinga.com
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