As of May 27, former U.S. President and Republican frontrunner Donald Trump’s cryptocurrency portfolio has exceeded the $10 million mark, largely due to significant gains in the value of the MAGA (TRUMP) meme coin and a rise in Ethereum prices.
Trump’s crypto investments have been flourishing, with his on-chain holdings now valued over $10 million. According to data from ArkhamIntel, Trump’s investment in the $TRUMP coin alone is valued at $7.3 million, making it the cornerstone of his crypto portfolio. Additionally, Trump holds over 463 Ethereum (ETH), currently worth approximately $1.8 million. Notably, Trump does not have any publicly disclosed holdings in Bitcoin (BTC).
The TRUMP coin, a political meme coin based on the Solana blockchain, has seen a remarkable 60% increase in value over the past week, currently priced at $12.40.
Trump and Cryptocurrency
Donald Trump has recently adopted a more favorable stance toward cryptocurrency, a significant shift from his earlier views. In 2019, Trump was openly skeptical about Bitcoin, labeling it “highly volatile.” However, during his current campaign trail, Trump has expressed strong support for the crypto industry, indicating a policy shift should he return to the presidency.
During a recent rally, Trump emphasized the importance of embracing cryptocurrency to prevent its migration out of the United States due to regulatory hostility. “Crypto is moving out of the U.S. because of hostility toward it. I don’t want that. If we are going to embrace it, we will have to let them be here,” he stated.
Trump’s campaign has also taken concrete steps to integrate cryptocurrency into its fundraising efforts. On May 21, the Trump campaign launched a fundraising page accepting donations in various cryptocurrencies available on the Coinbase platform.
Furthermore, Trump has announced his intention to support the appeal of Ross Ulbricht’s conviction. Ulbricht, the founder of the infamous Silk Road online marketplace, has become a significant cause for many in the crypto community who view his sentencing as overly harsh and indicative of broader governmental overreach.
Trump’s evolving stance on cryptocurrency and his substantial holdings in the digital asset space underscore a strategic alignment with the growing crypto community, potentially positioning him favorably among crypto enthusiasts and investors.
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