A glimpse into Donald Trumps staggering 32 million cryptocurrency portfolio
Key Points
– Former President Donald Trump’s cryptocurrency holdings have surged to over $32 million, influenced by Vivek Ramaswamy.
– Trump’s portfolio is largely made up of meme coins MAGA Coin (TRUMP) and Trog (TROG), totaling more than $27 million.
– Despite initial skepticism, Trump now supports cryptocurrency and stresses the importance of U.S. leadership in the industry.
Former US President Donald Trump has experienced a significant transformation in his views on cryptocurrency, largely guided by Vivek Ramaswamy. Trump’s crypto assets have now exceeded $32 million, marking a notable shift in his perspective.
Trump’s foray into the crypto sphere began in 2022 with the introduction of the Trump Digital Trading Cards NFT collection, selling 45,000 NFTs at $99 each. This endeavor was followed by the ‘Mudshot Edition’ NFTs, enabling Trump to amass over 1,900 ETH. In December 2023, he sold 1,075 ETH for $2.4 million but retains more than 800 ETH, currently valued at over $3.1 million.
A Diverse Crypto Portfolio
A significant portion of Trump’s $32 million crypto portfolio comprises two meme coins: MAGA Coin (TRUMP) and Trog (TROG), which collectively represent over $27 million. His holdings also encompass tokens like TROG, TRUMP, ETH, and WETH.
The Rise of MAGA Coin
MAGA Coin was the initial successful project to contribute tokens to Trump’s portfolio. In August 2023, the creators transferred 580,000 tokens to him. Initially of modest value, MAGA Coin escalated to over $17.5 million. Although its value has fluctuated, Trump’s holdings remain substantial at nearly $8 million.
Trog Takes the Lead
Trog is Trump’s largest asset, with 210.345 billion tokens valued at $21 million—comprising over half of TROG’s total market capitalization of $36 million. Despite not ranking in the top 2,500 tokens by market cap, Trog holds a significant place in his portfolio. The token’s value surged by more than 160% in the last 24 hours following Trump’s supporters discovering his investment.
Strategic Decisions and Liquidity Concerns
The deliberate airdrop of TROG to Trump’s wallet, encompassing half of the total supply, appears to be a strategic move to elevate his public profile. This tactic has also benefited the projects themselves, as the association with Trump has boosted their visibility.
Despite the impressive overall value of his portfolio, a substantial portion of Trump’s crypto assets are illiquid due to limited market depth and volume in certain meme coins. For instance, Trog only had a trading volume of $20 million in the previous 24 hours, potentially posing challenges for Trump to sell his holdings without impacting market prices.
A Shift in Outlook
In a 2021 interview, Trump advocated for strict cryptocurrency regulations, asserting the dollar’s significance as the primary global currency.
However, his recent actions demonstrate a supportive stance towards cryptocurrency, underscoring the importance of the United States taking the lead in this innovative domain.
What are your thoughts on Trump’s remarkable embrace of cryptocurrency? Do you believe this move will influence others to follow suit?
Tags: Crypto Regulations