In the former US President Trump’s 32 million dollar crypto portfolio
Former President Donald Trump has dramatically changed his stance on crypto. Once a vocal critic called them a “disaster waiting to happen” in 2021, Trump became a crypto supporter in 2024.
This dramatic change in attitude is largely due to Vivek Ramaswamy's advice, which highlights Trump's growing crypto holdings, now over $32 million.
Donald Trump's 32 million dollar crypto portfolio
Trump's foray into the crypto market began with the release of the 2022 Trump Digital Trading Cards NFT collection. A set marketed by another company sells 45,000 NFTs for $99 each.
Subsequent “mugshot issue” NFTs further increased his holdings, allowing Trump to accumulate over 1,900 ETH from these projects. In the year In December 2023, it released 1,075 ETH for $2.4 million, leaving it with more than 800 ETH currently worth over $3.1 million.
The majority of Trump's $32 million crypto portfolio is determined by two meme coins, MAGA Coin (TRUMP) and Trog (TROG), contributing to a total of over $27 million. These tokens were a gift to Trump, which greatly increased his market presence.
MAGA Coin was the first successful project to send tokens to Trump's portfolio. In August 2023, the founders of the project transferred 580,000 tokens. Originally valued at just a few thousand dollars, the value of the MAGA coin has soared to over $17.50. Although the price has since dropped, Trump's position is still worth nearly $8 million.
Trump's largest crypto holding is the Mame Coin, which launched on June 1, 2024, in Trog or Trump Frog. Half of the token supply was given to Trump, causing its value to increase. His 210 billion Trog tokens are now worth an impressive $20.46 million.
Despite its huge value, Trog remains a relatively small project, with a market cap of just under 2,500 tokens. This presents liquidity challenges, making it difficult for Trump to sell his holdings without impacting the market.
Read more: 7 Hot Meme Coins and Altcoins Trending in 2024
The strategy of sending tokens to Trump has proven to be very effective for these projects. By placing their tokens in the Trump portfolio, creators gain visibility. This trading tactic benefited both MAGA Coin and Trog, strengthening Trump's influence on the crypto market.
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