HomeCryptoDonald Trump and the boom of his crypto wallet: reached $5 million

Donald Trump and the boom of his crypto wallet: reached $5 million

Recently, the crypto wallet of former United States president, Donald Trump, reached 5 million dollars, thanks to 2.9 million dollars in Trump-branded tokens. 

Specifically, a significant part of his digital wealth is now represented by a digital currency called TRUMP, a generous gesture from the developers of the cryptographic project who gifted the former president with a total of 579,281 tokens.

Let’s see all the details below.

The rise of Donald Trump’s cryptos: $2.9 million to support the wallet

As anticipated, on February 24th, the former President of the United States and candidate for the 2024 elections, Donald Trump, witnessed a significant increase in the value of his crypto wallet. 

Despite his initial reluctance towards Bitcoin (BTC), Trump has entered the world of cryptocurrencies by launching a series of non-fungible token (NFT) cards.

These were quickly exhausted, marking his debut in the earnings sector in crypto.

Subsequently, he presented several collections of NFT cards, also announcing the intention to create a card based on the order of Bitcoin with inscriptions of his “Mugshot Edition Series”.

Trump has capitalized on profits from ethereum (ETH) sales after NFT-related operations. Despite these transactions, he currently owns 340,531 ETH, equivalent to just over 1 million dollars, according to current data from Arkham Intelligence.

Furthermore, Trump holds 368,342 wrapped ether (WETH), with a value of over 1 million dollars as of February 24, 2024. 

However, the main part of his cryptocurrency wealth comes from significant holdings in maga coins (TRUMP), with a total of 579,281 TRUMP in his possession.

This reserve places Trump with 2.98 million dollars in TRUMP tokens, a generous gift from the project developers.

Record and evaluation of Donald Trump’s crypto collection

Currently, TRUMP tokens are being traded between 4.75 and 5.19 dollars each, reaching a historical high of 5.19 dollars on Saturday. 

This peak represents a significant increase of 44,309% compared to the historical low of 0.01136 dollars per coin reached on October 14, 2023. The total supply of TRUMP tokens has a maximum of 47 million, with 46,502,515 units currently in circulation.

The 8,233 individual wallets hold the TRUMP tokens, which have been transferred a total of 151,853 times. 

The Wormhole Token Bridge holds the most significant amount of TRUMP, while the top 100 holders collectively own 63.76% of the available TRUMP supply. 

Trump ranks as the 15th largest holder according to the latest data. In addition to the maga tokens (TRUMP), Trump also owns 950,000 BABYTRUMP, now valued at over 275,000 dollars.

According to Arkham Intelligence, the total value of Trump’s cryptocurrencies amounts to 5.38 million dollars. It remains uncertain whether Trump will decide to sell his significant collection of maga tokens. 

Furthermore, the Trump family is considering the possibility of taking legal action against a cryptocurrency called “Trumpcoin”. 

In particular accusing her of improperly using the family name without authorization. In response, the creators of Trumpcoin have responded to the accusations.

Trump’s new approach to Bitcoin

During a recent town hall on Fox News in South Carolina, Donald Trump raised an issue regarding the main cryptographic asset, Bitcoin. 

Specifically, Trump has stated that he prefers the US dollar, but has acknowledged that Bitcoin has developed “a life of its own”: 

“Some form of regulation will probably be necessary, as you know, but many people are embracing this cryptocurrency and I notice more and more individuals eager to make payments in Bitcoin. Something interesting is emerging. Therefore, I can live with it in one way or another. I have always appreciated something truly powerful, called the dollar.”

Despite his previous hostility towards cryptocurrencies, dating back to May 2018 when, as president, he reportedly ordered to “prosecute Bitcoin for fraud” to the then Treasury Secretary, Steven Mnuchin, Trump now seems to show some interest in digital assets.

Alessia Pannone
Alessia Pannone
Graduated in communication sciences, currently student of the master's degree course in publishing and writing. Writer of articles from an SEO perspective, with care for indexing in search engines.