Donald Trump Crypto Portfolio Exceeds $10 Million
28 May, 2024 ● Crypto people
On Monday, former United States President Donald Trump's crypto asset holdings momentarily exceeded $10 million, largely due to the value of his main token, TRUMP.
Blockchain intelligence firm Arkham reported on May 27 that presidential candidate Donald Trump's portfolio of crypto assets had reached $10 million.
This increase to a seven-figure sum was driven by the MAGA memecoin, TRUMP, which hit a record high of $13.24 on May 27.
Arkham notes that Donald Trump owns 579,290 TRUMP tokens, currently valued at about $6.79 million.
The memecoin has seen a 53% increase in the past week, following endorsements of cryptocurrency by Donald Trump.
“I am very positive and open-minded to cryptocurrency companies, and all things related to this new and burgeoning industry,” he declared on May 25.
On May 21, the Trump 2024 campaign introduced a fundraising initiative allowing contributions in cryptocurrency.
Since reaching its peak, the price of TRUMP has dropped 8.8% to $12.04, as reported by CoinGecko.
This decrease has brought his total portfolio down to $9.5 million amidst a downturn in the crypto markets in early trading on May 28.
MAGA, the token named after Trump's campaign slogan, was launched in August with the purpose of supporting U.S. veterans and child protection.
Although it uses his name, it is not officially connected to or endorsed by Donald Trump.
The official website states that since its inception, MAGA has contributed 234.75 ETH to veteran causes and 204.5 ETH towards combating child trafficking.
Additionally, Donald Trump possesses a significant amount of Ethereum, with 464.2 ETH valued at approximately $1.79 million at the current rates.
He also holds one million MVP tokens, another memecoin linked to his campaign, valued at around $473,000. MVP reached a peak of $0.709 on May 17 but has since declined by 33% to a current price of $0.477.
Sources:
https://cointelegraph.com/news/donald-trump-crypto-portfolio-peaks-above-10-million
