Examining Donald Trumps Surprising 32 Million Cryptocurrency Portfolio
Key Points
Donald Trump’s investment in cryptocurrencies has grown to more than $32 million, primarily influenced by Vivek Ramaswamy.
The majority of Trump’s crypto portfolio is made up of meme coins MAGA Coin (TRUMP) and Trog (TROG), which combined make up over $27 million.
Despite his initial doubts, Trump now embraces cryptocurrency and stresses the importance of U.S. leadership in the industry.
Former President of the United States, Donald Trump, has undergone a significant transformation in his views on cryptocurrency, largely guided by Vivek Ramaswamy. Trump’s crypto investments have now exceeded $32 million, showcasing a notable shift in his perspective.
Trump’s foray into the crypto world began in 2022 with the introduction of the Trump Digital Trading Cards NFT collection, selling 45,000 NFTs at $99 each. This initiative was followed by the ‘Mudshot Edition’ NFTs, aiding Trump in amassing 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 consists of two meme coins: MAGA Coin (TRUMP) and Trog (TROG), which collectively represent over $27 million. In addition to these, his holdings include tokens like TROG, TRUMP, ETH, and WETH.
The Rise of MAGA Coin
MAGA Coin emerged as the first 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’s price surged to over $17.5 million. Though it has experienced fluctuations since then, Trump’s stake remains significant at almost $8 million.
Trog Takes the Lead
Trog stands as Trump’s largest holding, with 210.345 billion tokens valued at $21 million—representing over half of TROG’s total market capitalization of $36 million. Despite ranking outside the top 2,500 tokens by market cap, Trog plays a crucial role in his portfolio. The token’s value spiked by more than 160% in the past 24 hours following the discovery of Trump’s investment by his supporters.
Strategic Decisions and Liquidity Concerns
The deliberate airdrop of TROG to Trump’s wallet, accounting for half of the total supply, appears to be a calculated move to boost his public image. This tactic has also benefitted the projects themselves, as their association with Trump has increased their visibility.
Despite the impressive overall value of his portfolio, a significant portion of Trump’s crypto wealth is illiquid due to limited market depth and volume in specific meme coins. For instance, Trog had a trading volume of only $20 million in the past 24 hours, potentially posing challenges for Trump to offload his holdings without impacting market prices.
A Shift in Perspective
In a 2021 interview, Trump advocated for stringent regulations on cryptocurrencies, asserting the dollar’s supremacy as the world’s primary currency.
However, his recent actions exhibit a supportive stance towards cryptocurrency, underlining the necessity for the United States to lead in this cutting-edge sector.