Pro-crypto Donald Trump has recently lost a lot of money with his crypto holdings. According to an article by Benzinga, Trump’s portfolio has dropped to $5.3 million, a loss of more than $3 million, as a result of the reduction in ETH and TRUMP during the previous month.
According to reports, Donald Trump, the former president, has garnered media attention for a variety of reasons, but his involvement with crypto has been among the more intriguing and surprising ones.
Over the past year, Trump has made millions of dollars in cryptocurrency, but his portfolio has fluctuated due to the increased volatility in the market. The majority of the former president’s cryptocurrency holdings, which totaled more than $8.5 million at their peak, were in MAGA Coin. Nevertheless, they currently stand at $5.3 million.
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Trump’s crypto holdings began with the introduction of the Trump Digital Trading Cards, a non-fungible token (NFT) concept. Following the December 2022 sale of 45,000 NFTs for $99 apiece, Trump has been receiving royalties from trading volumes. From the NFTs, Trump has received crypto including more than 1,800 Ethereum (ETH) and Wrapped Ethereum (WETH).
When the “limited edition collection” of 44,000 NFTs, or cartoon-like trading cards, with images of Trump dressed as a superhero, a welder, or a hunter, was released, it created speculative waves across the market. A day later, all 99-dollar cards were gone. Then, in April of that year, Trump and his business partner, NFT INC LLC, launched a second batch. It was also completely sold out.
According to Forbes, more than $8.9 million was raised through the sales. The declaration states that the former president received $298,000 in licensing fees from the venture. The same Trump organization, CIC Digital, that handled the licensing fee collection for him is now holding his wallet.
Trump’s recent pro-crypto stance has kept crypto voters keen on his upcoming policies for the segment. However, it currently seems that just being on board with digital asset trade is not enough to persuade crypto voters.
One could ask if crypto voters will support the Biden administration given their somewhat harsh stance on cryptocurrency rules. This does not appear to be the case, though. The interests of US voters have evolved. Based on survey data from Coinbase and Morning Consult, Forbes also adds that 22% of respondents who owned Bitcoin identified as Democrats, 18% as Republicans, and 22% as Independents.
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