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Trump Crypto Holdings Have Increased by $6.1 Million in 2024

Key Points:

Former President Donald Trump crypto holdings have increased by $6.1 million this year, with over 65% consisting of meme coins.
Trump’s engagement with the cryptocurrency community has intensified, supported by crypto-friendly vice presidential candidate J.D. Vance.

A cryptocurrency address reportedly associated with former U.S. President Donald Trump has seen its holdings rise by $6.1 million this year, according to blockchain intelligence platform Arkham.

Trump Crypto Holdings Increased $6.1 Million This Year

Arkham reported that Trump crypto holdings comprised more than 65% of meme coins. The most significant holding was $3 million in a token called TRUMP, followed by Ether and Wrapped Ether-WETH. Other altcoin holdings related to Trump were below $1 million each.

Although that may seem a modest figure given the breadth of the Trump financial empire, Trump crypto holdings give him a strategic edge in reaching out to the cryptocurrency community, which he has been trying to woo these last months.

This election cycle, a mix of technology executives and crypto enthusiasts have rallied around Trump, whom they perceive as more approachable than President Joe Biden or possible Democratic nominee Vice President Kamala Harris. Trump’s pick for a vice presidential running mate, Ohio Sen. J.D. Vance, is himself friendly toward crypto.

Shift in Trump’s Stance on Digital Assets Following NFT Success

The foray of Trump into the world of cryptocurrency began in 2022 with the sale of an NFT trading card collection that sold out in one day, netting almost $5 million in sales. He had previously labelled digital currencies, such as Bitcoin, a “scam,” but his recent success with NFTs seems to have softened him toward the sector.

More recently, he spoke at the annual Bitcoin conference in Nashville and has teased other projects on social media. He’s just made a live announcement on X about World Liberty Financial, a DeFi project including a new crypto token called WLFI.

Analysts say Bitcoin will also remain stable in the lead-up to the election as the price currently trades above $68,000.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.