Former President Donald Trump has dramatically shifted his stance on crypto. Once a vocal critic, calling them a “disaster waiting to happen” in 2021, Trump has become a proponent of crypto by 2024.
This remarkable change in perspective is largely attributed to Vivek Ramaswamy’s advice, which highlighted Trump’s growing crypto holdings, now exceeding $32 million.
Inside Donald Trump’s $32 Million Crypto Portfolio
Trump’s journey into the crypto market began in 2022 with the release of the Trump Digital Trading Cards NFT collection. The collection, marketed by another company, sold 45,000 NFTs at $99 each.
The subsequent “Mugshot Edition” NFTs further boosted his holdings, allowing Trump to accumulate over 1,900 ETH from these projects. In December 2023, he liquidated 1,075 ETH for $2.4 million, retaining over 800 ETH currently valued at over $3.1 million.
Most of Trump’s $32 million crypto portfolio depends on two meme coins, MAGA Coin (TRUMP) and Trog (TROG), collectively contributing over $27 million. These tokens were a gift to Trump, significantly enhancing their market presence.
MAGA Coin was the first successful project to send tokens to Trump’s portfolio. In August 2023, the project’s founders transferred 580,000 tokens to him. Initially worth only a few thousand dollars, the value of MAGA Coin skyrocketed, reaching highs of over $17.50. Although the price has since declined, Trump’s position remains substantial at nearly $8 million.
Trump’s largest crypto holding is in Trog, or Trump Frog, a meme coin that launched on June 1, 2024. Half of the token’s supply was gifted to Trump, causing its value to soar. His 210 billion Trog tokens are now worth an impressive $20.46 million.
Despite its substantial value, Trog remains a relatively small project, ranking outside the top 2,500 tokens by market cap. This presents liquidity challenges, making it difficult for Trump to sell his holdings without impacting the market.
Read more: 7 Hot Meme Coins and Altcoins that are Trending in 2024
The strategy of sending tokens to Trump has proven highly effective for these projects. By placing their tokens in Trump’s portfolio, creators gain visibility. This marketing tactic has significantly benefited both MAGA Coin and Trog, cementing Trump’s influential role in the crypto market.
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