Former US President Donald Trump Holds Around $500,000 In Digital Assets
A new financial filing reveals that former United States President Donald Trump holds between $250,000 to $500,000 in digital assets.
The filing submitted to the Office of Government Ethics (OGE) showed a list of assets from various sources belonging to the ex-President.
An item that caught the eye of crypto enthusiasts was described as a “Cryptocurrency Wallet (Ethereum)”, a value Trump places between $250k to $500k.
The assets are likely tied to previous non-fungible tokens (NFTs) the former President released last year and made a subsequent rollout in April.
In December 2022, Trump released trading cards that portrayed him as an astronaut, a cowboy, and a superhero for $99 each with sales kicking off amid his first indictment.
Sales were largely successful with cards reportedly selling out within hours. While the crypto community lauded the ex-President’s belief to dabble in digital art, critics raised the issue of his previous “distasteful” statements about cryptocurrencies.
"🚀 Wowza! The demand for Trump's #NFTs has skyrocketed, boosting sales by a jaw-dropping 650% in just a few days! 📈🤯 The floor price has reached astonishing new heights! 🌟 It's NFT mania like never before! 💥 Get ready for a wild ride through the NFT universe! 🎢✨" pic.twitter.com/IXct5f66uu
— NFTs Insights (@NFTsInsights) August 14, 2023
In April, he rolled out another successful 47,000 trading cards which sold out within six hours for $4.7 million.
“I am pleased to inform you that, due to the great success of my previously launched DIGITAL TRADING CARDS, we are doing it again, SERIES 2, AVAILABLE RIGHT NOW”
According to reports, Trump’s trading card series both netted $8.9 million in sales and earned him approximately $298,000 in license fees, making up a significant part of his digital asset holdings.
Just like Trump, Melania Trump the former first lady also tested NFTs by creating digital art from popular NASA Apollo moon images which sold for $75 apiece.
A Republican crypto battle
Donald Trump alongside other top Republicans declared a bid to the White House in 2024 with digital assets being an issue amid the Biden administration’s harsh crypto proposals.
While candidates like Florida Governor Ron DeSantis has always been a supporter of Bitcoin (BTC), a critic of Central Bank Digital Currencies (CBDC), and recently promised to end the war President Biden declared on digital assets if elected, Donald Trump has not always been a supporter of cryptocurrencies.
In 2019, Trump tweeted that he “ is not a big fan of Bitcoin and other cryptocurrencies.” Although the tweet was deleted, in 2021, he told Fox Business that it felt like a scam adding, “I don’t like it, because it’s another currency competing against the dollar. I want the dollar to be the currency of the world. That’s what I’ve always said.”
Years later, after the release of his digital art, many believe that his notion on the market has changed as he now holds crypto assets.
Miami Mayor Francis Suarez has also publicly backed Bitcoin including his campaign’s announcement to accept cryptocurrency donations and drive the adoption of the asset.
