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What coins does he hold?
Trump’s Crypto Fortune Increases With $500,000 Earnings: Which Coins Does He Hold?
Donald Trump has been involved in the cryptocurrency industry in recent years, making millions and generating highly profitable investments. Most of these gains came in 2024 due to the rising price of many cryptocurrency assets, as well as smaller projects gaining popularity. Additionally, Trump made huge gains in early May after speaking positively about cryptocurrency to his supporters.
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Trump took time out from the ongoing trial to host an NFT event for supporters of his “Trump Digital Trading Cards ‘Mugshot Edition'” NFT collection. Customers who purchased 47 or more NFTs, priced at $99 each, were invited to join Trump at Mar-a-Lago for dinner and listen to him talk about cryptocurrency.
The dinner inevitably led to several viral moments shared on social media. The cryptocurrency community has long been waiting for a definitive position from Trump. For some traders, cryptocurrency issues are extremely important in terms of the upcoming presidential election. So, some in the cryptocurrency community were happy to hear about it Trump’s comments on cryptocurrencies to the event.
“Democrats are very much against it [crypto]. And I say, a lot of people really agree… and I’m fine with that. I want to make sure it’s good and solid…but I’m fine with it. If you like cryptocurrencies in any form, and they come in many different forms, you’d be better off voting for Trump,” he told her.
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The comments received millions of views on social media, driving up the prices of some cryptocurrencies. For Trump, the biggest gain was MAGA Coin (TRUMP). This token, created in August 2023, is a memecoin that uses Trump’s name to attract investors. Furthermore, according to the project’s marketing director, Steven Steele, the token “has evolved to become a de facto election betting market for many investors.”
Moreover, the project sent Trump 580,000 tokens when they released the token. At the time, TRUMP was worth less than $0.01 and the position was worth only a few thousand dollars. However, the price of TRUMP rose as high as $11.56 in March and Trump’s position is now worth millions.
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It was therefore no big surprise that TRUMP’s price increased following the former president’s comments. MAGA Coin went from less than $4.20 per token to more than $7.30 in less than three hours after the comments were posted. This resulted in a price increase of more than 70% and Trump’s total stake went from $2.4 million to more than $4.2 million. The token’s price has since fallen, but Trump is still sitting on over $500,000 in unrealized gains from the token.
In addition to TRUMP, the wallet also holds ETH and WETH, received from the NFT project, as well as over 50 other small memecoins.
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This article Trump’s Crypto Fortune Increases With $500,000 Earnings: Which Coins Does He Hold? originally appeared on Benzinga.com
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