Is Trump really a Bitcoiner? What is Crypto really?

A new financial disclosure reveals that Trump has invested millions of dollars in — an industry that has been an obvious target of his campaign.

However, despite his many unique appeals to Bitcoin investors, there is no evidence that the former president actually owns any BTC as opposed to smaller options.

Trump's Crypto Portfolio

According to the 2024 disclosures published by Citizens for Ethics, the Republican candidate will hold between $1 million and $5 million in hardware wallets in “cryptocurrency wallet virtual Ethereum keys.”

He earned more than $7.15 million from a licensing deal with NFT INT LLC related to his digital trading card collections, for which demand increased following the July attempt on his life.

The records don't directly reveal which cryptos Trump owns, but an on-chain analysis from Arkham Intelligence provides a look into Trump's wallet. According to the firm's analysis, Trump's wallet contained $3.5 million in assets, including 492 Ethereum ($1.28 million) and another 377 bundles of Ethereum ($977,000).

He also holds six-figure positions in obscure memecoins, including TROG ($372,000) and GUA ($345,000). Other holdings include $136,000 in stablecoin USDC, and $135,000 in MAGAA — a Trump-inspired memecoin unrelated to it. The token's price increased by 15% on Friday.

Trump's net worth is $7.5 billion, according to Forbes. That means his reported crypto holdings are only 0.067% of his assets.

Where is the bitcoin?

Earlier filings show that Trump owned crypto – mostly on Ethereum – in August 2023, although the amount has increased significantly since then.

However, the wallet still shows no sign of ownership of Bitcoin or sealed Bitcoin. When Trump attended the 2024 Bitcoin Conference in July, he echoed the popular Bitcoin investor belief that “never sell your bitcoins” and agreed to HODL the US government's BTC holdings if re-elected.

He has also made repeated pleas to the Bitcoin mining industry, calling for all remaining BTC to be mined in the United States. In fact, he predicted that Bitcoin's market value could one day surpass that of gold, and that the asset could help erase the country's $35 trillion debt.

In the year The disclosures in 2022 showed Trump nominee JD Vance owning between $100,000 and $250,000 in BTC at the time.