- Trump’s reversal on cryptocurrencies includes accepting donations for his campaign via crypto, amassing over $3 million.
- Besides Ethereum, Trump has invested in a MAGA-themed memecoin and earned millions from NFT collections.
Despite his previous criticism of cryptocurrencies as a “scam,” Donald Trump’s financial portfolio now includes substantial investments in digital currencies, including between $1 million and $5 million in Ethereum alone.
This shift reflects a notable change in Trump’s stance toward cryptocurrencies, which he had vocally opposed during his presidency.
As President, Trump consistently expressed skepticism about the viability of cryptocurrencies, citing concerns over their role in illegal activities and their lack of inherent value.
“I am not a fan of Bitcoin and other cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air,” he said in a tweet in 2019.
He famously tweeted in 2019, dismissing Bitcoin and other cryptocurrencies as not real money and criticizing their volatile nature.
The $TRUMP ticker will officially be one year old in 7 days and you thought we'd stop now?
The show goes on. pic.twitter.com/6b7XyXGIIe
— MAGA Memecoin (@MAGAMemecoin) August 4, 2024
However, recent financial disclosures show that Trump has reversed his position, now holding investments in Ethereum.
In addition to his investment in Ethereum, Trump’s campaign has started accepting cryptocurrencies for donations on a fundraising page, bringing in over $3 million. This is part of a broader strategy to engage with younger, tech-savvy voters who are increasingly interested in digital currencies.
Trump has also ventured into other cryptocurrency-related endeavors. He has invested in a MAGA-themed memecoin called TRUMP, which saw a surge in value following his public endorsement.
Furthermore, Trump has entered the non-fungible token (NFT) market, earning approximately $7.15 million in licensing fees from 29 NFT collections that feature stylized images of him in various heroic poses.
Even Melania Trump has participated in the NFT market, earning over $330,000 through her own collection. This involvement in digital assets underscores a broader trend of blending politics with technological innovation.
Looking ahead, Trump’s new affiliation with cryptocurrencies suggests potential political implications for his 2024 presidential campaign. He has expressed ambitions for the United States to become the “crypto capital of the planet” and has proposed the creation of a national reserve fund for Bitcoin.
🚨BREAKING: Under a Donald $TRUMP Presidency we're writing checks out in #Bitcoin BABY! pic.twitter.com/bXpxN4t445
— MAGA Memecoin (@MAGAMemecoin) August 2, 2024
Donald Trump’s transition from a cryptocurrency skeptic to a significant investor illustrates a dramatic shift in his financial strategy and political messaging, reflecting broader changes in the public’s and investors’ attitudes toward digital assets.
