President-elect Donald Trump has recently made waves in the cryptocurrency industry with his changing stance on Bitcoin (BTC). Once a vocal critic of the cryptocurrency, calling it a threat to the U.S. dollar and labeling it as volatile and unregulated, Trump has now shifted his views and expressed support for Bitcoin.
This dramatic turnaround comes amidst Bitcoin’s recent surge, crossing the $100,000 milestone—an achievement many believe was influenced by Trump’s favorable statements and policy proposals on digital assets. The president, however, has claimed full credit for this milestone, stating that his leadership and policies have directly contributed to the growing acceptance and success of cryptocurrencies like Bitcoin.
Celebrating Bitcoin’s impressive 50% surge since his election victory, Trump took to social media to say: “CONGRATULATIONS BITCOINERS!!! $100,000!!! YOU’RE WELCOME!!! Together, we will Make America Great Again!” However, the key question is whether Trump benefited financially from the recent market surge.
Exploring Donald Trump’s cryptocurrency Portfolio
President Donald Trump appears to favor altcoins and meme cryptocurrencies over Bitcoin, based on recent reports about his investment portfolio. As of last week, Trump’s cryptocurrency holdings were valued at $1.5 million, but they have since skyrocketed to $8.3 million. This significant surge reflects his substantial investments in smaller assets.
Ethereum (ETH), the second-largest cryptocurrency by market capitalization, has long been a top player of the list for a while now. However, recent reports highlight a surprising twist in the investment strategy of U.S. President Donald Trump.
According to disclosed data, Trump’s largest cryptocurrency holding is not Ethereum or Bitcoin but rather TROG, a meme coin inspired by frogs. As of now, Trump owns approximately 210.345 billion TROG tokens, which are valued at around $2.54 million.
Donald Trump’s second-largest cryptocurrency holding is Ethereum, with approximately 495.672 ETH in his portfolio. At the time of valuation, these Ethereum holdings were worth around $1.92 million. Additionally, Trump also holds $1.86 million in wrapped Ethereum (WETH), a tokenized version of Ethereum designed for compatibility with decentralized applications.
In addition to other assets, the President also owns a cryptocurrency that shares his name: the TRUMP token. Once a leading cryptocurrency, the TRUMP token previously held the top position in popularity within its niche.
However, it has since experienced a significant decline, reportedly losing 70% of its value. Despite this drop, the President-elect still holds a substantial amount—579,000 TRUMP tokens, currently valued at $990,590.
Despite Bitcoin surpassing the $100,000 milestone, Trump appears reluctant to invest in BTC. Meanwhile, the community is optimistic that Elon Musk might influence Trump to embrace Dogecoin (DOGE), the original meme cryptocurrency. Interestingly, Musk is set to join Trump’s administration next year through a newly formed team called DOGE.
Also Read: How Much Would a $100 Investment in XRP Today Be Worth by 2030?
Disclaimer
The information in this article should not be considered financial advice, and the OvenAdd platform is intended only to provide educational and general information. Please conduct your own research and consult a financial advisor before making any investment choices.
