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Just recently, the 45th President of the United States, Donald Trump, has expressed a neutral stance towards bitcoin, stating he could live with it “one way or the other.” Meanwhile, Trump’s holdings in crypto assets have seen a significant increase in value. A substantial portion of his digital wealth is currently in a digital currency aptly named TRUMP, a gesture from the developers of the crypto project who gifted the ex-president 579,281 tokens.
Namesake Token’s Success Fuels Trump’s Crypto Wealth
On Feb. 24, 2024, Donald Trump, the previous U.S. President and a candidate in the 2024 presidential race, has seen his digital currency portfolio swell in value. Despite his initial aversion to bitcoin (BTC), Trump ventured into the world of cryptocurrencies by launching a non-fungible token (NFT) card collection, which quickly sold out, marking his entry into crypto earnings.
Following this, he introduced several NFT card collections and announced plans to create a Bitcoin Ordinal-based card with inscriptions from his “Mugshot Edition Series.” Moreover, Trump capitalized on the profits from his etheruem (ETH) sales post-NFT ventures. Despite these transactions, he retains 340.531 ETH, valued at just over $1 million, based on current data from Arkham Intelligence.
Additionally, he owns 368.342 wrapped ether (WETH), equally valued at over $1 million as of Feb. 24, 2024. However, the bulk of Trump’s crypto wealth stems from his substantial holdings in maga (TRUMP) coins, with a total of 579,281 TRUMP in his possession. This stash positions Trump with $2.98 million in TRUMP tokens, a generous gift from the project’s developers.
As of now, TRUMP tokens are trading between $4.75 and $5.19 each, reaching an all-time high of $5.19 at 3:00 p.m. Eastern Time on a Saturday afternoon. This peak represents a staggering 44,309% increase from the token’s record low of $0.01136 per coin on Oct. 14, 2023. The total issuance of TRUMP tokens is capped at 47,000,000, with a current circulating supply of 46,502,515.
The token is held by approximately 8,233 individual wallets and has been transferred 151,853 times. The Wormhole Token Bridge holds the largest amount of TRUMP, and the top 100 maga holders collectively possess 63.76% of the available TRUMP supply. Trump ranks as the 15th largest holder based on the latest figures. Beyond his maga (TRUMP) holdings, he also possesses 950,000 BABYTRUMP, now valued at over $275,000.
According to Arkham Intelligence, Trump’s total cryptocurrency asset value stands at $5.38 million. It remains uncertain if Trump will decide to sell his significant collection of maga tokens. The Trump family reportedly considered legal action against a cryptocurrency named “Trumpcoin,” accusing it of misusing the family name without permission. In response, the creators of Trumpcoin addressed the accusations.
What do you think about TRUMP token swelling in value and increasing Trump’s crypto wealth? Do you think the 45th President will eventually spend the funds? Let us know what you think about this subject in the comments section below.