Donald Trump Now Holds a Crypto Portfolio Worth Almost $17 Million

Donald Trump, the recently elected 47th president of the United States, now has a crypto portfolio that contains over $16 million in various tokens.

Recently elected 47th president of the United States, Donald Trump, now has a crypto portfolio that contains over $16 million in various tokens, thanks to his pro-crypto stance during his campaign.

At the time, Trump promised to bring back the lost crypto glory of the United States (rephrasing), making the country crypto-friendly, which could attract innovation through major crypto companies.

He also promised to make the U.S. the “Bitcoin capital of the world” and create a national Bitcoin reserve. With his foresight, it is not surprising that he holds tens of millions of these tokens.

Trump’s Crypto Portfolio Nears $17 Million

According to data from on-chain public service Arkham Intelligence, Donald Trump added about $6.7 million in less than 24 hours, reaching $16,623,326 ($16.62 million).

The data shows that Trump’s wallet has a healthy mix of crypto assets, including well-known tokens and lesser-known ones. Specifically, Trump has Ethereum (ETH) Wrapped Ethereum (WETH), USDC, and TRUMP memecoin. Other tokens include TROG, GUA, TUA, and RIO.

Here’s the Catch

Many would wonder why the president holds some highly volatile assets. Before you get too excited, it has not been officially confirmed whether Trump himself actually bought these tokens.

This wallet is public, which means that anyone could send crypto to it, whether requested or not. Token developers often use this method, sending their coins to key industry figures as a means of advertising.

We have also seen similar cases with Vitalik Buterin, the founder of Ethereum, receiving tokens to his public wallet from the creators. So, it is possible that some of these coins were transferred to his wallet by external parties.

Impact on Coin Prices

Such updates often create a positive atmosphere around the included coins. For example, TROG, the dominant crypto in Trump’s wallet with $10.41 million, has seen a staggering increase in the last 24 hours.

According to CoinMarketCap data, TROG soared 123% in the last 24 hours to trade at $0.00003947. Moreover, its market activity during the same period surged to an unprecedented 532%.

Also, the memecoin named after him, TRUMP, spiked by 3.19% according to on-chain data, to trade at $1.81.

Ultimately, this highlights the intriguing intersection of politics and cryptocurrency, showcasing how public figures like Donald Trump can influence market sentiment, even indirectly.

While Trump’s pro-crypto rhetoric might inspire confidence in the sector, the lack of clarity about the origins of some tokens in his wallet underscores the speculative and unpredictable nature of crypto markets.