- Donald Trump appealed to the 50M crypto holders in the United States.
- Trump calls for crypto regulation and fires shots at Biden’s complacency.
- Donald’s wallet soars above $10M mostly thanks to one meme coin.
Ahead of the United States presidential election, Donald Trump’s newly found love for crypto and blockchain technology has already started to bear fruit. The Republican presidential candidate proclaimed his bearish-to-bullish Bitcoin stance last weekend on his Truth Social network.
Trump’s Change Of Heart: For the Good of Crypto?
“I am very positive and open-minded to cryptocurrency companies and all things related to this new and burgeoning industry,” Trump said in his message on May 26. This all-in crypto posture is a complete turnaround from Trump’s earlier statements.
Trump claimed not to be a fan of Bitcoin and crypto back in 2019, going as far as to say, “I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air.”
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However, the veteran entrepreneur now ambitions to keep innovation regarding blockchain technology inside the country rather than abandon the digital landscape like Joe Biden’s administration. “There is no second place,” Trump reminds us, also firing shots at Joe Biden for allegedly wanting crypto to “die a slow and painful death.”
Here’s How Trump’s Wallet Surged Past $10 Million
Digging deeper into Trump’s crypto portfolio, DailyCoin found a flurry of different meme coins, with many of them named after Trump himself. However, MAGA (TRUMP) stands out from the crowd as the most profitable meme coin in Donald’s crypto stash. 579.29K of these coins on Ethereum (ETH) are now worth $7.21 million.
Hitting a new all-time peak at $13.24 on May 27, 2024, MAGA complements a bunch of other lesser-known Trump-themed meme coins like BABYTRUMP, SUPERTRUMP, MAGA VP (MVP) and others.
Trump also keeps a heavy bag of Ethereum (ETH). The largest Proof of Stake (PoS) network’s native coin, ETH, soared to the monthly height of $3,959 in the afternoon on May 27, 2024. This price milestone was achieved four days into the favorable decision made by the Securities and Exchange Commission (SEC). The SEC approved all Ether Spot ETFs, which are pivotal to securing clearer regulation for the blockchain sector.
Trump’s ventures in crypto go way beyond trading meme coins. He has released three non-fungible token (NFT) collections, banking millions from sales. His Mugshot NFT collection features his mugshot taken during the presidential candidate’s surrender at the Fulton County Jail in the state of Georgia in August 2023.
NFT enthusiasts who bought one of the Mugshot NFTs have also secured themselves a spot in the Gala dinner at Mar-A-Lago, where Trump announced a series of other crypto-related details, like the Coinbase Commerce-powered crypto donation gateway.
On the Flipside
- Trump’s ultra-bullish statements about blockchain’s bright future in the United States came several days after the presidential candidate launched a cryptocurrency donation page on his campaign website.
Why This Matters
Cryptocurrency legislation is increasingly becoming a hot political topic, with potential for clearer blockchain regulation and smooth global adoption.
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