Donald Trump’s Cryptocurrency Holdings Reach $10 Million
A recent report reveals that a cryptocurrency wallet linked to former President Donald Trump contains assets worth approximately $10 million. The wallet, monitored by Arkham Intelligence, holds significant amounts of various tokens.
Details of the Holdings
- The wallet primarily contains TRUMP tokens valued at $7.12 million, purchased using wrapped ether (WETH) on Uniswap.
- It also holds 463.441 ETH, worth around $1.84 million.
- Additionally, the wallet contains 1 million MAGA VP tokens, estimated to be worth $509,000.
Trump’s on-chain holdings have seen a surge, mainly driven by the rise in the value of the $TRUMP coin. The total value of the wallet recently exceeded $10 million, although it currently stands at $9.95 million due to token price fluctuations.
Arkham Intelligence highlights that the wallet’s value is largely derived from appreciating assets, particularly MAGA tokens, which are trading at $12.03, showing a 3.16% increase in the past 24 hours.
Trump’s Stance on Cryptocurrency
Donald Trump has shown strong support for cryptocurrencies, expressing his openness to the industry during a speech at the Libertarian National Convention. He contrasts his position with President Joe Biden’s, criticizing Biden’s perceived anti-crypto stance and pledging to foster a thriving crypto environment under his leadership.
Trump’s involvement in cryptocurrency places him among the top celebrities in terms of crypto assets, surpassing figures like Justin Bieber and Kevin Hart. The connection between Trump and the wallet was established through his financial statements filed in August 2023, where his wallet held nearly $5 million in ETH.
Reports suggest that the cryptocurrency industry will play a significant role in the upcoming elections, with businesses ready to invest over $80 million. Trump’s endorsement of crypto has labeled him as “America’s first crypto president,” stemming from his administration’s approval of future Bitcoin contracts in 2017.
As the industry awaits potential legislative changes, opinions differ on whether Biden’s re-election would bring favorable regulations for cryptocurrencies, given the jurisdictional conflicts between the SEC and CFTC.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
