- Details of Donald Trump’s crypto holdings have come to light.
- The former president made several millions from NFTs.
- Trump’s chances of success in the upcoming elections are beginning to waver.
Donald Trump, the former president of the United States, has recently renewed his bid to reclaim the White House, taking every opportunity to secure victory. In a surprising turn, the once anti-crypto advocate has embraced the industry, claiming to have recognized the potential of the asset class and pledging to support favorable policies if re-elected.
As his campaign progresses, recent disclosures have revealed how invested the election hopeful is in crypto.
How Much Crypto Trump Owns
Donald Trump’s personal financial disclosure on Thursday, August 15, 2024, revealed the weight of his crypto holdings. According to the document, the presidential candidate holds an Ethereum-dominant cryptocurrency wallet with assets valued between $1 million and $5 million.
Sponsored
Trump declared an additional $7.15 million from his NFT ventures, such as his November 2022 Trump Cards and December 2022 Mugshot Edition. However, he noted that the overall value of these remains unreliable.
Blockchain analytics platform Arkham Intelligence also estimates the holdings of a wallet associated with the election hopeful at approximately $3.6 million. The majority of the assets are in ETH and WETH. The wallet also contains an assortment of other assets and stablecoins, albeit in smaller amounts.
Trump’s financial disclosure comes amidst a decline in his odds in prediction markets for winning the upcoming elections.
Kamala Harris Overtakes Trump in Crypto Bets
Previously enjoying predictions as high as 70%, Donald Trump’s chances of winning the November presidential elections have recently slimmed to 44%.
This decline coincides with a rise in the prospects of Kamala Harris, the Democratic candidate and current Vice President of the United States, who now leads with odds of 54%, surpassing Trump by a margin of 10%.
Harris’ rising odds are not isolated, stemming from mounting efforts by the Democrats to place her within the industry’s good graces. The efforts have seen the launch of a crypto-focused advocacy group named “Crypto 4 Harris” and a recent town hall meeting exploring ways to embrace digital assets.
While the recent meeting outlined ambitious goals for the asset class, including the long-demanded regulatory clarity, it remains to be seen whether the Democrats will fully commit to supporting and advancing the industry’s growth.
On the Flipside
- Trump’s $1 million to $5 million in crypto holdings represent only 0.013% to 0.067% of his reported $7.5 billion net worth.
- Kamala Harris was not present at the Town Hall meeting, and unlike Trump, she has not been vocal about her support for the crypto industry.
- In July 2024, Trump revealed plans to launch another NFT collection.
Why This Matters
While substantial, Trump’s crypto holdings represent only a small portion of his overall net worth, likely largely derived from his various business ventures that accept crypto payments. This raises questions about his investment in the industry, as the sector’s future depends on consistent and meaningful support rather than temporary endorsements.
Read this article for calls on Kamala Harris to vocalize her stance on the crypto industry:
Ramaswamy Urges Harris to Clarify Crypto Stance for Partisan Unity
Donald Trump’s sons have joined his crypto bandwagon; read this article for what they are up to:
Trump’s Sons Debut Communication Hub for Teased Crypto Project
