Former President Donald Trump, who is leading the pack of Republican candidates for the 2024 presidential election, has amassed a personal crypto fortune worth over $10 million.
This substantial crypto holding cements Trump’s status as a major player in the digital asset space.
TLDR
- Donald Trump’s crypto wallet now holds around $10 million in assets, primarily TRUMP coin ($7.3 million) and Ethereum ($1.8 million), but no Bitcoin
- The value of Trump’s crypto holdings has surged, with the TRUMP coin rising 10% in the last 24 hours
- Trump has shifted to a more favorable stance on crypto, criticizing hostility towards it in the U.S. and pledging pro-crypto policies if elected
- He promised to commute the sentence of Silk Road founder Ross Ulbricht if elected president
- Trump’s crypto holdings make him one of the top celebrity holders, surpassing Justin Bieber, Kevin Hart and Jimmy Fallon
According to blockchain data tracked by Arkham Intelligence, the crypto wallet linked to the former president holds a diverse range of cryptocurrencies.
The bulk of the assets, valued at $7.12 million, is comprised of MAGA tokens, also known by their ticker TRUMP. These tokens were initially purchased using wrapped ether (WETH) on the decentralized exchange Uniswap.
In addition to the MAGA tokens, Trump’s wallet contains 463.441 Ethereum (ETH) tokens, worth approximately $1.84 million at current prices.
The wallet also holds 1 million MAGA VP (MVP) tokens, valued at around $509,000. Notably absent from Trump’s crypto portfolio is Bitcoin, the world’s largest cryptocurrency by market capitalization.
The recent surge in the value of Trump’s crypto holdings can be attributed to the appreciating prices of the assets, particularly the MAGA token.
BREAKING: Donald Trump now holds $10M in crypto
Donald Trump’s on-chain holdings surpassed $10 Million this morning, mainly fuelled by the rise in price of the $TRUMP coin – of which Trump currently holds $7.3M. pic.twitter.com/rkQi6SLvvG
— Arkham (@ArkhamIntel) May 27, 2024
Over the past 24 hours, the MAGA token has experienced an 8.3% increase in value, currently trading at $12.43. This upward movement has propelled the overall value of Trump’s crypto wallet past the $10 million mark.
Trump’s substantial crypto investment places him among the top celebrity holders of digital assets, surpassing well-known names such as Justin Bieber, Kevin Hart, and Jimmy Fallon.
The former president’s connection to the crypto wallet was established through information disclosed in his financial statements filed in August 2023.
At the time of the initial discovery, Trump’s wallet held nearly $5 million in Ethereum and had earned approximately $4.9 million in royalties from the Trump Digital Trading Card NFT collection.
His crypto holdings were substantial enough to earn him the label of “crypto whale.” In December 2023, the wallet sold off $2.4 million worth of Ethereum.
Trump’s stance on cryptocurrencies has evolved over time, from initial skepticism to a more embracing attitude.
During his current campaign trail, the former president has emphasized the importance of embracing cryptocurrencies and has criticized the current hostility towards them in the United States.
“Crypto is moving out of the U.S. because of hostility toward it. I don’t want that. If we are going to embrace it, we will have to let them be here,” Trump stated at a recent rally.
