Former President Donald Trump made a name for himself in business and real estate deals, but now he's making money investing in cryptocurrencies. These investments cover all corners of cryptocurrencies and will yield very high returns in 2024.
But Mr. Trump did not invest directly in the assets himself. Instead, he received most of them from fans and projects related to him.
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Arkham Intelligence has obtained information about President Trump's cryptocurrency holdings. The company uses a combination of blockchain analysis and financial documents to identify the wallets of a particular person or company.
President Trump received his first crypto token in late 2022 following the release of the Trump Digital Trading Card Non-Fungible Token (NFT) collection. The project distributed 45,000 NFTs using Trump's name, image, and likeness at a price of $99 each. Trump earned royalties on his first sale and a small amount from secondary market volume. The project performed fairly well compared to the rest of the NFT market. The floor price for this project is well over $200.
Trump received over 1,700 Ethereum (ETH) and Wrapped Ether (WETH) from the project. In December 2023, Trump apparently sent 1,075 ETH to Coinbase, where he sold it. At the time, ETH was trading at about $2,300, and Trump received $2.4 million in proceeds. Trump currently owns about 800 tokens worth about $2.5 million between ETH and WETH.
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This is the only time Trump has sold his cryptocurrency holdings. But another token in his portfolio has performed extremely well over the past few months, raising questions about whether Trump will sell more in the future.
The largest position in Trump's portfolio is MAGA coin (TRUMP). Launched in August, the token rose from less than a cent to a high of over $11.50 in March. At the project's launch, the project's creators sent 580,000 tokens to Trump as part of a marketing plan and as a thank you to the former president. At the time, the token was worth several thousand dollars.
As TRUMP's popularity exploded, so did its price. At its peak, Trump's 580,000 tokens were worth more than $6.7 million. TRUMP's price has since fallen, but the position is still worth more than $2.7 million.
Trump also owns more than 60 other tokens, most of them meme coins, with values ranging from $1 to $1,000, making up a small portion of his total holdings. Trump's cryptocurrency portfolio is worth more than $5.6 million, but this number constantly changes depending on the value of the tokens in his portfolio.
Mr. Trump has realized millions of dollars in profits for virtually nothing, and could earn millions more by selling other tokens in his portfolio.
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Donald Trump in this article has millions of dollars in cryptocurrencies, but he is not risking his money with these altcoins.
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