Trump’s cryptocurrency portfolio growth in 2024
Meme currencies dominate former US President Donald Trump’s cryptocurrency holdings, which are on the rise.
According to on-chain analytics tool Arkham, the wallet was worth $7.79 million on October 18, up 420% from $1.5 million on January 1, 2024.
His cryptocurrency holdings valuation indicates that 65% of his investment is made up of meme coins, with MAGA (TRUMP) being the largest. The token, valued at $5.21, has risen more than 1,300% in a year, adding $3.02 million to his portfolio.
Ethereum (ETH) is second with $1.3 million. The Republican presidential candidate also owns USD Coin (USDC), $137.81, and Polygon (MATIC), $1.96.
Recent investor interest in meme currencies could explain the surge. However, Trump meme coins are mostly inspired by events concerning him, such as the failed assassination attempt and his relationship with Elon Musk.
Trump is one of the most renowned cryptocurrency investors among US politicians.
Trump influences the cryptocurrency market
Ahead of the November election, Trump pledged to make the United States a leader in digital asset innovation, particularly Bitcoin (BTC). The former president also opposes central bank digital currencies (CBDCs), which he believes undermine financial independence.
Despite investments in digital assets, Trump has launched his own cryptocurrency businesses, including World Liberty Financial (WLF).
Trump says initiative will transform finance. The launch of the token was controversial as Trump and his family could get 75% of the net profits.
The cryptocurrency also raised less than $12 million, missing its sales target of $300 million.
With this cryptocurrency investment environment, researchers believe that Trump’s likely election will affect most asset prices. Chartered says Bitcoin could reach $150,000 if it takes back the White House.
#Trump #Bitcoin #Cryptocurrency $BTC #PoliticalMemes
