Author: 636Marx
Guess who’s making headlines again? That’s right, our good old friend Trump!
A professional intelligence company revealed his digital wallet, which contained Ethereum worth US$6 million and other fancy digital assets.
However, it is worth pondering that although Trump has praised Bitcoin before, there is not even a trace of Bitcoin in his wallet, which has left many Bitcoin supporters puzzled!
Now the entire digital currency circle is in an uproar. This article will solve the mystery. Follow the author to explore why Trump doesn’t buy Bitcoin!
How Trump's wallet was found
While crypto wallets can remain anonymous, the underlying blockchain technology is transparent. Arkham Intelligence is a specialized company that identified and verified Trump's wallets. They found his assets: Ethereum, stablecoins, and even MEME coins like GUA, TRUMP, and TROG.
Trump’s lack of Bitcoin in his wallet, despite his previous positive statements about it, has raised concerns. His portfolio consists solely of Ethereum-based tokens, sparking speculation about his motives and the potential impact on his political ambitions and the crypto industry.
Contents of Trump’s $6 million Ethereum wallet
At the time of discovery, Trump's wallet contained approximately 493 Ether (ETH) worth $1.3 million, along with $1.28 million in Wrapped Ether (WETH). This shows Trump's interest in Ethereum, the second-largest digital currency after Bitcoin. Ethereum's importance in emerging financial instruments and digital art has been attracting major investors.
Trump also holds riskier assets known as MEME coins, with his largest holding being GUA, valued at $1.22 million. Ironically, Trump previously dismissed digital currencies as scams during his presidency. These MEME coins are highly volatile and often attract investors seeking quick profits.
Trump's $20 million loss, MEME coin gambling
Trump’s digital currency portfolio has experienced significant fluctuations, reaching a peak of $25 million in June 2024 due to a sudden surge in the value of the MEME coin. However, this proved to be short-lived.
For example, a token called MAGA (named after Trump's campaign slogan) once reached $13 per coin, which greatly increased the value of Trump's wallet. But like most MEME coins, it quickly depreciated. In the end, Trump's wallet lost nearly $20 million, leaving only $5.8 million.
This volatility highlights the high-risk nature of MEME coins. While they can generate astronomical returns, they can also result in significant losses just as quickly. Their value is driven primarily by social media hype rather than intrinsic value.
Trump’s Strange Absence from Bitcoin
It is particularly noteworthy that Trump does not hold Bitcoin. This seems inconsistent with his pro-crypto rhetoric during the 2024 presidential campaign, in which he promised to create a Bitcoin-friendly America. The contents of his wallet say otherwise.
The discrepancy could mean that Ethereum is favored over Bitcoin, or that Bitcoin could be held in an undisclosed wallet. In any case, his visible crypto holdings are primarily high-risk tokens.
Trump’s Ethereum-centric portfolio
Trump's focus on Ethereum is consistent with current trends in the crypto space. Ethereum is the basis for many decentralized applications (dApps), NFTs, and DeFi tools. Trump's wallet composition indicates interest in these emerging technologies.
However, it is unclear whether Trump actually believes in the technology or is simply chasing potential profits. Given his previous skepticism of digital currencies, he may follow the lead of a growing number of major companies adopting Ethereum-based solutions.
The impact of digital currency wallets on Trump's campaign
The discovery of Trump's investment portfolio has drawn attention to the huge crypto enthusiasm that has been unleashed. It marks a clear reversal from his presidency, which has criticized digital currencies for their possible use in illegal activities.
Now, as a presidential candidate, Trump has championed digital currencies and promised a more relaxed regulatory environment for digital currency companies. His investment in Ethereum may be an attempt to attract tech-savvy digital currency enthusiast voters.
Trump’s digital currency portfolio reflects the overall nature of the crypto market: it is highly risky, dynamic and unpredictable. While Trump may be a new entrant into the digital currency space, his Ethereum-centric investment strategy suggests he recognizes the technology’s potential to disrupt traditional businesses. He holds high-risk MEME coins and does not hold Bitcoin investment options, which is consistent with his famously high-risk, high-reward business strategy. If Trump remains so popular with Americans, Harris may need to interview her old rival in 2025!
Others say this is a strategic move by Trump to target the cryptocurrency community. However, this strategy also has risks. Bitcoin maximalists may question Trump's commitment to their cause because he does not hold Bitcoin. They may wonder if Trump really grasps their vision for the future of finance.
What is really worth caring about is not why Trump did not invest in Bitcoin. Rather, it is whether Trump truly recognizes and accepts this emerging technology, or is this just a strategic move to win votes? The answer to this question will only be revealed with the passage of time. The author will closely follow the development of the situation to assess the potential impact of the crypto president on the digital currency industry and the political landscape.
