Donald Trump’s crypto holdings have skyrocketed since the beginning of the year. According to data from Arkham, Donald Trump’s cryptocurrency holdings have increased by $6.1 million since the year began.
Interestingly, memecoins make up more than 65% of his present assets.
Trump’s Previous Crypto Holdings Amounted To $10 Million
Arkham data reveals that Trump’s current crypto holdings are valued at over $7 million. However, the number is still less that what the holding had previously.
According to a previous report by CoinMarketCap, Donald Trump had over $10 million worth of on-chain cryptocurrency assets, mostly from his largest token investment in MAGA (TRUMP).
Despite the decrease, the overall value of Trump’s holdings is significantly higher than what it was at the start of the year.
The likely cause of Trump’s increase in crypto value was the MAGA memecoin TRUMP, which, according to previous data, on May 29 reached an all-time high of $15.44.
The recent increase in the value of TRUMP can be ascribed to Donald Trump’s support for cryptocurrencies. He adopted an optimistic and receptive attitude toward cryptocurrency businesses and the sector at large.
Donald Trump also has a substantial quantity of Ethereum (ETH) in addition to his TRUMP interests; his 494.811 ETH are estimated to be worth $1.28 million. In addition, he owns a million MVP tokens, which are valued at roughly over $473,000.
Another memecoin that facilitates donations to the Trump campaign and gives out rewards is called MVP. It saw a 33% decrease after hitting an all-time high of $0.709 on May 17 and is now trading at $0.477.
Donald Trump’s Election Campaign Takes Spotlight Among Election Voters
People all throughout America are paying close attention to Donald Trump’s presidential campaign. If Trump is elected to a second term as president, the cryptocurrency community appears to be hoping for increased market acceptability and reach.
Donald Trump previously unveiled a bold plan to cut the country’s spiraling $35 trillion debt using crypto holdings. In an interview with Fox News’ Maria Bartiromo, Trump suggested using Bitcoin or a “crypto check” to pay down the debt in order to prevent a financial catastrophe.
Trump’s renewed interest in digital assets and his belief that US innovation in the cryptocurrency industry is critical to the nation’s competitiveness are evident in the plan.
Furthermore, when Trump said that if reelected, he would make sure the government never sold its Bitcoin holdings, the Bitcoin industry saw a chance to grow even more.
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