Former US President Donald Trump has drastically changed his stance on crypto as his holdings are growing, exceeding $32M. His remarkable perspective shift is largely attributed to Vivek Ramaswamy’s advice.
His journey in the crypto market began in 2022 with the release of the Trump Digital Trading Cards NFT collection. The collection sold 45,000 NFTs at $99 each. The subsequent ‘Mudshot Edition’ NFTs further augmented his holdings with Trump accumulating over 1900 ETH from the projects. Further, in December 2023 he liquidated 1,075 ETH for $2.4 million, retaining over 800 ETH which is currently valued at over $3.1 million.
Trump’s Significant Holdings
Most of Trump’s $32M crypto portfolio was dominated mainly by two meme coins MAGA Coin (TRUMP) and Trog (TROG), collectively contributing over $27 million. His holdings are diversified across several tokens, with notable holdings in TROG, TRUMP, ETH, and WETH.
MAGA Coin was the first successful project to send tokens to Trump’s portfolio. In August 2023, the founders had transferred 580,000 tokens to him, initially worth only a few thousand dollars, the value of MAGA Coin soared substantially to over $17.5. While the price has declined since then, Trump’s position remains significant at nearly $8M.
Trog: Trump’s largest holding!
Trog is Trump’s largest holding with 210.345 billion tokens valued at $21 million which is over half of TROG’s total market cap of $36 million, indicating a substantial part of his portfolio in a single asset. Despite its notable value, Trog is a relatively smaller project ranking outside the top 2,500 tokens by market cap.
Trog rose over 160% in the last 24 hours after his supporters discovered Trump’s holding in the token. The TRUMP token, another holding, is valued at $7.61 million, with 579.29 thousand tokens priced at $13.13 each. The strategic airdrop of TROG to Trump’s wallet with half of the total supply seems to be a strategic move to influence his public profile. It has also proven effective for these projects as placing the tokens in Trump’s portfolio helps creators gain visibility.
But is the wealth liquid?
Despite the impressive total value of his portfolio of over $30M, a significant portion of this wealth is illiquid due to the lack of market depth and volume in some memcoins such as Trog which had a trading volume of only $20 million in the past 24 hours. This illiquidity could pose challenges in realizing the full value of his holdings.
Notably, in a 2021 interview, Trump supported stringent regulation of cryptocurrencies, contending that the currency of this world should be the dollar. However, despite his contradictory views earlier, lately, Trump has displayed a supportive attitude towards crypto, emphasizing the need for the United States to lead in this innovative field.
