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Donald Trump’s cryptocurrency holdings have surpassed $10 million, led by MAGA
Donald Trump’s cryptocurrency holdings have surpassed $10 million, led by MAGA
Republican candidate and former US President Donald Trump has seen his on-chain cryptocurrency holdings surpass $10 million, largely thanks to his largest token investment in MAGA (TUMPET). On May 29, Trump’s cryptocurrency portfolio briefly hit seven figures, second to blockchain intelligence firm Arkham.
The increase in value was mainly attributed to the MAGA memecoin, TRUMP, which reached an all-time high of $15.44 on May 29. TRUMP’s recent increase in value can be attributed to Donald Trump’s support of cryptocurrencies. On May 25, he expressed a positive and open-minded stance towards cryptocurrency companies and the industry as a whole. In line with this, the Trump 2024 campaign launched a fundraising page on May 21 to accept cryptocurrency donations.
According to Arkham, Trump currently holds 579,290 TRUMP tokens, equivalent to approximately $8.56 million. However, TRUMP’s value has declined since he reached his peak. It is currently trading at $14.7.
In addition to his holdings in TRUMP, Donald Trump also owns a significant amount of Ethereum (ETH), with 464.2 ETH worth approximately $1.79 million. Additionally, it holds one million MVP tokens, worth approximately $473,000. MVP is another memecoin that offers rewards and supports donations to Trump’s election campaign. After reaching an all-time high of $0.709 on May 17, it has since fallen 33%, currently trading at $0.477.