The value of Donald Trump’s cryptocurrency holdings has skyrocketed to $16.77 million.
According to data Finbold obtained from Arkham Intelligence, a public data tool that allows anyone to examine blockchain and cryptocurrency activity, Trump’s holdings increased by $6.78 million in a single day as of December 13, 2024.
However, there is more to the story than meets the eye before you assume that Trump has fully embraced cryptocurrency as his new political weapon.
What’s in Trump’s digital wallet?
A peculiar assortment of assets, including Ethereum (ETH), and Wrapped Ethereum (WETH). He also has other meme tokens like TROG and TRUMP, which are contained in Trump’s well-known wallet.
USDC, TUA, RIO, and GUA are some of the other smaller holdings.
On paper, it appears to be a daring wager on everything from popular cryptocurrency to the bizarre realm of online humour. Don’t be fooled by the statistics, though; Trump did not necessarily buy all of these tokens.
🇺🇸 LATEST: Donald Trump holds nearly $7.5M in crypto.
His largest holding is $ETH. pic.twitter.com/DOksJRDhuB
— Cointelegraph (@Cointelegraph) December 6, 2024
In cryptocurrency, anyone, invited or not, can send tokens to any known wallet. This indicates that even if these coins are associated with Trump’s wallet, their status as his investments has not been formally verified.
Producers transfer tokens to well-known individuals to increase the legitimacy of their coins. This is a traditional crypto gimmick. It can be a savvy marketing strategy at times or outright deceptive at others.
The crypto market is bullish on Trump
At $10.49 million, TROG accounts for the majority of Trump’s holdings. The TRUMP token, which is indeed named after him, contributes an additional $1.07 million. However, he does not profit from meme currency hysteria just because he has these tokens in his wallet.
Trump Appoints Cryptocurrency Supporter to Higher-Level Position! He Talks About Bitcoin (BTC) in the Heat!https://t.co/ERBJPhrLWY
— Bitcoin Sistemi EN (@btcsistemiEN) December 13, 2024
Trump now appears prepared to put the United States at the vanguard of the cryptocurrency race.
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