Donald Trump Claims Profit From ‘Crazy New Currencies’ — Here’s A Look At The Cryptos He Own

In 2021, former president Donald Trump called crypto a “disaster waiting to happen” and declared that he was “not a fan.” But Trump’s stance on crypto has reversed in the years since. He has repeatedly spoken more positively about crypto in 2024.

“Democrats strongly oppose this.” [crypto]. And I’m saying, a lot of people are very receptive to that… and that’s okay with me. I want to make sure it’s nice and solid… but I’m okay with that. If you love crypto in any form, and it comes in many different forms, you better vote for Trump,” Trump said at an NFT event at Mar-a-Lago in May.

Don’t miss:

Additionally, Trump appeared on CNBC in March to discuss his views on crypto, stating: “I make money with it, I have fun with it. Crazy new currencies, that’s what I call them. These are crazy new currencies, whether you call them crazy new currencies.” let it be.” Bitcoin or others.”

Trump has been making money from crypto through various projects for the last few years. Arkham Intelligence, a blockchain analysis company, discovered Trump’s wallet address by cross-referencing data on the chain with his financial files.

Most of his crypto assets come from multiple NFT projects that use his name, image, and likeness to market and sell NFTs. These NFTs, called Trump Digital Trading Cards, are priced at $99 each and over 90,000 have been sold in total. Trump received over 1,900 ETH from these projects. However, in December 2023, he sold 1,075 ETH for $2.4 million in revenue. He currently owns approximately 850 ETH, worth approximately $3.1 million.

But the biggest assets in Trump’s portfolio are memecoins. A growing trend has been to send a large portion of the total token supply to a celebrity. Shiba Inu first popularized this idea by sending half of his token supply to Ethereum founder Vitalik Buterin. The idea has since become popular, and Trump has benefited tens of millions of people.

Trend: Owning 0.001 Bitcoin can make you a multimillionaire, according to Fidelity director – but for how long?

Trump’s largest memecoin position is MAGA Coin (TRUMP). When the project launched, the founders sent Trump 580,000 tokens, worth only a few thousand dollars at the time. But the position has since increased to nearly $8.5 million, with TRUMP rising from under $0.01 to over $17.50 in less than a year.

The story continues

Additionally, Trump owns half the supply of TROG, a frog-themed memecoin. While the project is relatively small, owning half the supply means Trump owns more than $7 million in TROG.

Trump holds more than 50 other memecoins in his portfolio, but none of the tokens have any significant value. In total, Trump has over $20 million in crypto assets.

Read Next:

crypto digital assets

“THE SECRET WEAPON OF ACTIVE INVESTORS” Boost Your Stock Market Game with the #1 “news and everything else” trading tool: Benzinga Pro – Click here to start your 14-Day Trial Now!

Want to get the latest stock analysis from Benzinga?

This article Donald Trump Claims Profit from ‘Crazy New Currencies’ – Here’s a Look at the Cryptos He Owns originally appeared on Benzinga.com

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.