- Former President Donald Trump holds nearly $3 million in cryptocurrencies, with significant holdings in Ethereum.
- Trump’s crypto assets primarily originate from sales of his two NFT collections, promoting his 2024 presidential campaign.
Trump’s Deepening Ties with Digital Assets
Donald Trump, once a skeptic of Bitcoin and other digital assets during his tenure as US President, now surprisingly sports a robust crypto portfolio. Data sourced from Arkham Intelligence confirms that Trump’s digital wallet contains almost three million US dollars in cryptocurrencies. Contrary to earlier assumptions which estimated Trump’s Ethereum holdings at a mere $500,000, it now emerges that his Ethereum stash is considerably larger. The wallet showcases a whopping 1,535 ETH, translating to an impressive 2.8 million US dollars.
But Ethereum isn’t the sole crypto asset in Trump’s portfolio. The wallet further reveals holdings in WETH valued near $30,000, MATIC worth $2,000, and USDC at $12.65.
The Source of Trump’s Crypto Fortunes
These intriguing digital assets are not a product of trading or early investments; instead, they primarily stem from the sales of Trump’s two NFT collections. These collections aren’t just art or memorabilia; they serve a strategic purpose. Trump employs these collections as promotional tools for his 2024 presidential campaign, evidencing the growing nexus between politics and the digital asset realm.
This intertwining of NFTs with political campaigns isn’t a lone strategy. The increasing prices of these assets further solidify their significance. On OpenSea, one of the largest NFT marketplaces, the minimum price for Trump’s NFT collection has surged by nearly 15% in just the last 24 hours.
While Trump’s present embrace of digital assets might come as a surprise, especially given his earlier skepticism, he’s not the lone figure in the Republican landscape capitalizing on the crypto wave. Several Republicans are exploring the potential of cryptocurrencies and NFTs, signaling a broader shift in political fundraising and campaign strategies.