As of May 27, former President Donald Trump holds a cryptocurrency portfolio worth over $10 million. What will be his next move in the cryptocurrency domain?
Tl;dr
- Donald Trump’s crypto investments have exceeded $10 million.
- Most of his cryptocurrency fortune comes from the meme coin TRUMP.
- Trump expresses a pro-crypto sentiment during his recent campaign.
- He has recently signaled his intention to support Ross Ulbricht’s appeal.
An Aggressive Stance in the World of Cryptocurrencies
The former U.S. President, Donald Trump, remains a prominent figure in American politics. Apart from his political career, he has made waves in the world of cryptocurrencies. Data from ArkhamIntel reveals that his investments in this sector have surpassed the impressive $10 million mark.
Usage of a Political Meme Coin
His main cryptocurrency is “TRUMP”, a political meme coin based on Solana, which has seen an increase of over 60% in a week. The current value of these tokens stands at $7.3 million. He also holds over 463 Ethereum (ETH) currently valued at $1.8 million. It is worth noting, however, that “Trump does not publicly own Bitcoin (BTC)”.
A Positive Stance Towards Cryptocurrency
The President has not shied away from expressing his enthusiasm for cryptocurrencies. During a public meeting, he mentioned considering integrating them into his policy in his next term. He believes that American hostility towards these currencies leads to them leaving the country, a scenario he aims to avoid.
In May, his campaign introduced a crowdfunding page accepting donations in any cryptocurrency available on the Coinbase platform.
Controversial Support
Recently, Trump made the controversial statement of supporting the appeal against the conviction of Ross Ulbricht, the founder of the now-defunct online black market Silk Road in 2013. This support for the quirky character in the cryptocurrency sphere once again reflects his growing interest in this domain.