finbold.com
President-Elect Donald Trump has long been considered the more cryptocurrency-friendly option, and with the original Bitcoin ($BTC) candidate, Robert F. Kennedy Jr., on his team, it hardly comes as a surprise that digital assets have rocketed since the election was called on November 6.
Considering the massive inflows, one might expect Trump’s cryptocurrency portfolio to have rocketed compared to mid-October, but exactly the opposite happened.
Specifically, the President-Elect’s digital assets holdings have diminished by approximately $2.35 million from their October 18 value of $7.79 million to $5.4 million at press time on November 12, per the data retrieved from Arkham Intelligence on November 12.
The dynamics of Donald Trump’s cryptocurrency portfolio
While such a situation might appear odd, it is worth pointing out that a part of the portfolio can be attributed to campaign donations – the Trump campaign’s wallet became open for digital assets in May – and the funds are likely to have been spent on the elections.
A significant drop in value was recorded on November 5 – likely due to eleventh-hour fundraising – but the portfolio rocketed days later, simultaneously with the market-wide rally.
Indeed, the surge’s effect is visible in the short time frames as well, considering that late on November 11 – the time the rumors of Trump being the biggest holder of the Peanut the Squirrel (PNUT) meme coin were circulating – the portfolio stood at $5 million and surged nearly half a million since.
These are Donald Trump’s top cryptocurrency holdings
Donald Trump owns a wide selection of tokens, but MAGA ($TRUMP) and Ethereum ($ETH) – including its wrapped form – are by far the biggest and most notable holdings. To be specific, the Republican President-Elect holds approximately $1.02 million worth of $TRUMP and $3.28 million of $ETH and wETH.
Elsewhere, Bitcoin is most notable for its absence because of its practical and cultural significance.
This fact is particularly pointed, considering the promised strategic $BTC reserve, the presence of RFK Jr. in the administration-in-waiting, and the warnings of economist Peter Schiff that Trump would break his promises to the community.
Crypto market sees massive inflows after Trump’s victory
Whatever the Trump administration’s actual steps – and whatever the fate of Trump’s cryptocurrency portfolio – the cryptocurrency markets have reacted wildly positively to the Republican victory.
Most prominent digital assets have been surging, and Bitcoin has breached multiple new all-time highs (ATH). It even closed in on $90,000 in the small hours of November 12.
Additionally, despite the latest pullback to $88,400, $BTC remains 28.71% up in the last seven days.
Finally, the same rally is evident across the market, with the total cryptocurrency market capitalization rocketing 32.90% within the same time frame and increasing by some $650 billion to $2.94 trillion.
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