While former President Donald Trump made a name for himself through business and real estate dealings, he is currently profiting from cryptocurrency investments. These investments span all corners of the crypto spectrum and have been exceedingly profitable in 2024.
But Trump did not invest directly in the assets himself. Instead, he has received most of them from fans and projects that are related to him.
Don’t Miss:
Arkham Intelligence obtained the information regarding Trump’s crypto holdings. The firm combines blockchain analytics with financial filings to locate the wallets of specific people and firms.
Trump received his first crypto tokens in late 2022 following the release of the Trump Digital Trading Cards non-fungible token (NFT) collection. The project used Trump’s name, image and likeness to distribute 45,000 NFTs priced at $99 each. Trump earned royalties on the initial sale as well as a small portion from the trading volumes on the secondary market. The project has performed fairly well compared to the rest of the NFT market. The floor price for the project is well over $200.
Trump has received over 1,700 Ethereum (ETH) and Wrapped Ether (WETH) from the project. In December 2023, Trump sent 1,075 of the ETH to Coinbase where he likely sold them. At the time, ETH was trading for around $2,300, and Trump received $2.4 million in proceeds. Trump currently holds around 800 tokens between ETH and WETH, worth approximately $2.5 million.
Trending: Bitcoin has jumped another 45% already this year – how much would you need to get started today?
That was the only time Trump has sold any of his crypto holdings. However, another token in his portfolio has performed extremely well in the past few months, raising the question of whether Trump would sell more in the future.
The largest position in Trump’s portfolio is MAGA Coin (TRUMP). The token, launched in August, went from less than 1 cent to a high of over $11.50 in March. At launch, the project’s creators sent 580,000 tokens to Trump as part of a marketing scheme and to thank the former president. At the time, the tokens were worth a few thousand dollars.
As the popularity of TRUMP exploded, the price skyrocketed. At highs, Trump’s 580,000 tokens were worth over $6.7 million. The price of TRUMP has since fallen, but the position is still worth over $2.7 million.
Trump holds over 60 other tokens, most of which are meme coins and are worth anywhere from $1 to $1,000 and make up a very small portion of the overall holdings. Trump’s crypto portfolio is worth over $5.6 million, but this number is constantly changing with the values of the tokens in the portfolio.
Trump has realized millions of dollars in gains essentially for free, with the potential for millions of dollars more if he were to sell the other tokens in his portfolio.
Read Next:
“ACTIVE INVESTORS’ SECRET WEAPON” Supercharge Your Stock Market Game with the #1 “news & everything else” trading tool: Benzinga Pro – Click here to start Your 14-Day Trial Now!
Get the latest stock analysis from Benzinga?
This article Donald Trump Owns Millions In Crypto, But He’s Not Risking His Own Money On These Altcoins originally appeared on Benzinga.com
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.