Donald Trump’s crypto portfolio briefly peaks above $10M

(Coin Telegraph)-29/05/2024

Former United States President Donald Trump’s on-chain crypto asset holdings briefly surpassed $10 million on Monday, primarily driven by his largest tokenholding, TRUMP. 

On May 27, blockchain intelligence firm Arkham reported that presidential candidate Donald Trump’s crypto asset portfolio topped $10 million.

The surge to a seven-figure portfolio was catalyzed by the MAGA memecoin, TRUMP, which surged to an all-time high of $13.24 on May 27.

According to Arkham, Donald Trump holds 579,290 TRUMP tokens, currency worth around $6.79 million.

The memecoin has surged 53% over the past week following Donald Trump’s crypto endorsements.

“I am very positive and open-minded to cryptocurrency companies, and all things related to this new and burgeoning industry,” he said on May 25.

On May 21, the Trump 2024 campaign launched a fundraising page for people to donate in crypto.

However, TRUMP prices have declined 8.8% since that peak in a fall to $12.04 at the time of writing, according to CoinGecko.

This has caused the entire portfolio to retreat to $9.5 million as crypto markets declined during early trading on May 28.

MAGA was launched in August to donate to U.S. veterans and protect children. While it bears the former president’s name, it is not officially affiliated with or endorsed by Donald Trump.

According to the official website 234.75 ETH has been donated to United States veterans and 204.5 ETH to child trafficking prevention since MAGA launched.

Donald Trump also has a big Ether bag with 464.2 ETH worth around $1.79 million at the time of writing.

He also holds a million MVP tokens worth around $473,000. MVP is another memecoin offering rewards and supporting donations to the Trump election campaign. It hit an all-time high of $0.709 on May 17 but has fallen back 33% since then to trade at $0.477 at the time of writing.