An article by Benzinga reports that Donald Trump, a known supporter of cryptocurrencies, has suffered significant losses in his crypto investments recently. His portfolio is now worth around $5.3 million, representing over $3 million in losses due to the decrease in ETH and TRUMP’s value during the past month.
Donald Trump’s Crypto Portfolio Takes a Hit
Based on news accounts, it’s been quite noteworthy why Donald Trump, the ex-president, has recently grabbed headlines. His connection to cryptocurrencies stands out as particularly fascinating and unexpected.
Over the last 12 months, Trump amassed over $8.5 million in cryptocurrencies, primarily MAGA Coin. However, his wealth from these digital assets has varied significantly due to market instability. Currently, his cryptocurrency holdings are valued at approximately $5.3 million.
Trump’s Crypto Collection
Trump’s cryptocurrency assets started with the launch of Trump Digital Trading Cards as non-fungible tokens (NFTs) in late 2022. After selling 45,000 NFTs for $99 each, Trump has been earning royalties from subsequent trades. The NFT sales brought Trump over 1,800 Ethereum (ETH) and Wrapped Ethereum (WETH) as returns.
When the unique collection of 44,000 NFTs, featuring Trump depicted as a superhero, welder, or hunter, became available last year, there was a great deal of excitement and anticipation in the market. In just one day, all 99-dollar cards were snapped up. In April of the same year, Trump and his business partner, NFT INC LLC, introduced a second offering, which also quickly sold out completely.
Based on Forbes’ report, over $8.9 million was generated through sales. As stated, the ex-president earned approximately $298,000 from licensing fees. Currently, the Trump organization, CIC Digital, manages and retains the funds derived from his licensing fees.
Trump’s Crypto Card: A Boon for Elections?
Trump’s more recent supportive views on cryptocurrencies have piqued the interest of crypto supporters regarding his future policies in this area. Nevertheless, it appears that merely expressing approval for digital currency transactions isn’t sufficient to win over the crypto voting bloc.
it’s worth pondering if crypto advocates will back the Biden administration despite their tougher stance on cryptocurrency regulations. However, it seems that may not be the case. The political leanings of US voters have shifted. According to surveys conducted by Coinbase and Morning Consult, as reported by Forbes, 22% of Bitcoin owners identified as Democrats, 18% as Republicans, and 22% as Independents.
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2024-04-09 01:11