Donald Trump’s Crypto Portfolio Crosses $33M after Meme Coin Airdrop

As a seasoned crypto investor with a keen interest in politics and the intersection of technology and finance, I find the recent developments surrounding former President Donald Trump’s crypto portfolio quite intriguing. The fact that his holdings have significantly increased due to an airdrop of a new meme coin, TROG, is a testament to the power of decentralized finance (DeFi) and the potential rewards it presents for early adopters.

Former United States President Donald Trump’s crypto portfolio has significantly increased following a recent airdrop. According to an X post from the crypto intelligence platform Arkham, the current Republican Presidential candidate’s crypto portfolio is now worth more than $33 million.

Trump Crypto Portfolio Pumps after TROG Airdrop

As an analyst, I’d rephrase the given text as follows:

I analyzed Trump’s investment portfolio as recorded by Arkham, and according to their data, I found that my largest holding in the portfolio is TROG, with a value of 210.345 billion units and $19.9 million as of the present moment. The second and third largest holdings are 579.29K Maga (TRUMP) tokens valued at $7.75 million and Ether (ETH), worth $1.79 million, respectively. Additionally, there are smaller investments in Wrapped Ether (WETH) ($1.42 million), USD Coin (USDC), MAGA Hat (MAGA), Conan (CONAN), and MAGA VP (MVP).

In Trump’s investment holdings, the two most substantial possessions consist of meme coins that were received as airdrops. On the other hand, his Ethereum (ETH) and Wrapped Ethereum (WETH) assets originate from the sale proceeds of his prior NFT collection.

TROG is a new token that launched on June 2. The origins date back to artist Mike Mitchell tweeting altered photos of Trump in May 2017. The post gained nearly 32,000 likes and over 14,000 retweets in a week, and led to several other altered images floating around on the internet. 

As a crypto investor, I’ve taken a close look at the tokenomics of TROG. Based on available reports, it appears that Trump is the largest holder with a significant stake. However, this is dwarfed by the second-largest holder who controls approximately 7.23 billion TROG, equivalent to 1.62% of the total supply, currently valued at around $450,000. The concentration of holdings in TROG has raised concerns for me since it’s been reported that only ten holders control a staggering 66.72% of its total supply.

Starting from May 27, the most significant investment in Trump’s cryptocurrency holdings was the MAGA (TRUMP) token. Following his conviction on several felony charges within a day, his digital wallet started receiving numerous donations. These contributions were seen as expressions of opposition to the verdict or a display of loyalty towards Trump by some observers. Notably, Trump has previously endorsed cryptocurrencies.

Trump Supports Cryptocurrencies

In an authoritative statement issued through a press release, the Trump campaign announced its acceptance of donations in various cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH), using Coinbase Commerce as the platform. This move is stated to be part of a larger pledge to advocate for the crypto industry should Trump win the upcoming election. Previously, at his Mar-a-Lago resort in Florida, Trump held an NFT Gala event where he mentioned his intention to facilitate cryptocurrency contributions to his campaign following a query about digital asset donations.

Back in March, when I spoke with CNBC’s Squawk Box, I acknowledged the significant potential uses for cryptocurrencies. I expressed this by saying:

“I’m not sure that I’d want to take [crypto] away at this point.”

In a recent gathering with his NFT supporters, Trump expressed his disagreement with the Biden Administration’s stance on cryptocurrencies. He went on to encourage those who support crypto to consider voting for him.

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2024-06-05 18:00