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IPFS News Link • Currencies

Donald Trump's Cryptocurrency Portfolio Tops $5M, Thanks to $2.9M in Trump-Branded Tokens

• https://news.bitcoin.com, by Jamie Redman

Meanwhile, Trump's holdings in crypto assets have seen a significant increase in value. A substantial portion of his digital wealth is currently in a digital currency aptly named TRUMP, a gesture from the developers of the crypto project who gifted the ex-president 579,281 tokens.

Namesake Token's Success Fuels Trump's Crypto Wealth
On Feb. 24, 2024, Donald Trump, the previous U.S. President and a candidate in the 2024 presidential race, has seen his digital currency portfolio swell in value. Despite his initial aversion to bitcoin (BTC), Trump ventured into the world of cryptocurrencies by launching a non-fungible token (NFT) card collection, which quickly sold out, marking his entry into crypto earnings.

Following this, he introduced several NFT card collections and announced plans to create a Bitcoin Ordinal-based card with inscriptions from his "Mugshot Edition Series." Moreover, Trump capitalized on the profits from his etheruem (ETH) sales post-NFT ventures. Despite these transactions, he retains 340.531 ETH, valued at just over $1 million, based on current data from Arkham Intelligence.

Additionally, he owns 368.342 wrapped ether (WETH), equally valued at over $1 million as of Feb. 24, 2024. However, the bulk of Trump's crypto wealth stems from his substantial holdings in maga (TRUMP) coins, with a total of 579,281 TRUMP in his possession. This stash positions Trump with $2.98 million in TRUMP tokens, a generous gift from the project's developers.

As of now, TRUMP tokens are trading between $4.75 and $5.19 each, reaching an all-time high of $5.19 at 3:00 p.m. Eastern Time on a Saturday afternoon. This peak represents a staggering 44,309% increase from the token's record low of $0.01136 per coin on Oct. 14, 2023. The total issuance of TRUMP tokens is capped at 47,000,000, with a current circulating supply of 46,502,515.


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