Republican presidential candidate Donald Trump has been involved in various crypto projects in recent years and has embraced crypto payments. However, his cryptocurrency portfolio has recently seen a downturn, now worth millions less than it was earlier this year.
Trump's involvement in the crypto space began with royalties from the Trump Digital Trading Cards NFT collection, selling 45,000 #NFTs for $99 each, netting him over 1,700 Ethereum (ETH). He later sold 1,075 ETH tokens in late 2023, generating $2.4 million in proceeds.
More recently, Trump launched a collection of 1,000 sneakers at a Sneaker Con in Philadelphia, priced at $399 a pair, which sold out quickly. Trump mentioned accepting Bitcoin as a payment method for the sneakers, stating he viewed #cryptocurrencies as "new crazy currencies" and enjoyed both making money and having fun with them.
One of the crypto assets Trump has benefited from is MAGA Coin (TRUMP), which went from less than $0.01 at launch to an all-time high of over $11.50. Trump received 580,000 TRUMP tokens at launch, initially worth a few thousand dollars but peaking at over $6.7 million. However, TRUMP's price has since dropped, and Trump's holdings are now valued at around $2.5 million.
Since early March, Trump's portfolio has seen a $3.3 million decline. At its peak, his portfolio was valued at over $8.5 million when TRUMP hit its #ATH and his #ETH🔥🔥🔥 neared $4,000. However, TRUMP's value has fallen by more than 50% since then, as has ETH's value.
Although ETH and TRUMP make up the majority of Trump's portfolio, he also holds over 60 other meme coins likely sent by his supporters. These holdings account for only a fraction of his $5.3 million wallet address.
Despite the paper losses, Trump remains invested in his crypto holdings, which could potentially help offset legal fees and penalties.
