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Trump holds over $1 million in crypto and earns millions from NFTs

Trump holds over $1 million in crypto and earns millions from NFTs

GrafaGrafa2024/08/19 06:45
By:Mahathir Bayena

Former President Donald Trump's latest financial disclosure reveals that he owns between $1 million and $5 million in Ethereum, despite previously calling Bitcoin (CRYPTO:BTC) a scam.

This move aligns with his recent efforts to court the cryptocurrency lobby, a group he has been engaging with for months.

Trump, who is running as the Republican presidential candidate for 2024, has been seen as a favorable figure by crypto enthusiasts, particularly in contrast to the current administration.

At the Bitcoin 2024 conference in Nashville, Trump made bold promises, including firing SEC Chairman Gary Gensler due to his opposition to cryptocurrency and establishing a strategic national Bitcoin reserve.

He also expressed his belief that Bitcoin could surpass gold's market cap, likening the cryptocurrency to the steel industry of a century ago.

Trump's involvement in the crypto space extends beyond ownership; he has also profited significantly from non-fungible tokens (NFTs).

Since entering the NFT market in 2022, Trump has made $7.15 million from his NFT collections, which feature images of him in various heroic and iconic roles.

His wife, Melania Trump, has also participated in the NFT market, earning $330,609 in licensing fees for her collections.

Trump's latest NFT collection, "MugShot," which centers on his ongoing criminal indictments, follows previous successful launches.

In a recent interview, Trump announced plans to release a fourth NFT collection, citing strong demand and enthusiasm from his supporters.

These financial moves, particularly in the cryptocurrency and NFT sectors, reflect Trump's growing involvement in digital assets and his strategic positioning within the crypto community as he seeks to influence the market and gain support in the upcoming election.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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