Former President Donald Trump needs no introduction. He is recognized worldwide for various reasons, although many might argue that cryptocurrency is not among them. However, the narrative surrounding Trump's involvement with cryptocurrency, particularly in recent months, has been incredibly remarkable and rather hilarious.

Over the last year, Trump has earned millions through cryptocurrency investments. However, the increased volatility in crypto markets has led to fluctuations in his portfolio. During a recent appearance on CNBC, the ex-U.S. president remarked that Bitcoin has evolved into an "additional form of currency."

However, did you know that he was not particularly fond of cryptocurrencies just a few years back?

Back in 2019, Trump unleashed a series of tweetstorms that sparked controversy, reminiscent of his typical daily tweets that often revolve around contentious subjects. On 11 July 2019, Trump went on Twitter to rant about the dangers and reliability of crypto assets, stating that:

He went on to declare that the USA only has one real currency that is valid, which is the United States Dollar, and that this currency dominates any other currency in the world. Furthermore, he extended his criticism to Facebook's then-planned digital currency, Libra (now known as Diem).

Unsurprisingly, the cryptocurrency market, known for thriving on attention, welcomed Trump's tweets or rants. Many within the cryptocurrency community boldly interpreted his tweets as confirmation that cryptocurrencies have indeed established themselves as a fundamental aspect of global finance. In which Coinbase CEO, Brian Armstrong, also chimed in and tweeted:

"Achievement unlocked! I dreamt about a sitting U.S. President needing to respond to growing cryptocurrency usage years ago. "First they ignore you, then they laugh at you, then they fight you, then you win". We just made it to step 3 y'all."

Subsequently, the Bitcoin marketplace eventually bought into Brian Armstrong's excitement, and the Bitcoin's price has shot up more than two percent to $11,636 following Donald Trump's tweets.

In 2021, Trump stated in an interview that he sees Bitcoin as a "scam" and he doesn't like it because it's another currency competing against the dollar.

Unexpectedly, Donald Trump's then-skeptism against cryptocurrencies is actually understandable as it involves considering various factors, including economic principles, regulatory concerns, and the potential threat to the U.S Dollar's dominance. His worry stems from cryptocurrencies' ability to circumvent regulations, support illicit behaviors and possibly weaken the conventional financial structures crucial for economic stability.

However, as a highly influential public figure, his opinions could increase doubts among his followers and skeptics of cryptocurrencies. This may lead to divided opinions on digital currencies, impacting their overall acceptance and trust among the public, ultimately affecting the coins' prices as well.

But times have changed since 2019, as Donald Trump seemingly became cryptocurrencies' top supporter.

Early Life

Donald John Trump was born on June 14, 1946, in Queens, New York City. He is a prominent American businessman, TV personality, and politician. He is best known for his career in real estate development, including iconic properties like the Trump Tower. Most notably, he was elected as the 45th President of the United States in 2016. Throughout his presidency, he was known for his unconventional leadership style, controversial policies, and outspoken nature that often causes an uproar.

NFTs & MemeCoins

In December 2022, Trump reveived cryptocurrency for the first time when a company not associated with him sold $4.5 million worth of Trump Digital Trading Cards NFT using his name, image and likeness. The project creators agreed to pay Trump with Ethereum as royalties. To date, Trump received more than 1,800 Ethereum (ETH) and Wrapped Ethereum (WETH) from the project and other supporters.

Following the NFT project's release, Arkham Intelligence Inc. Managed to uncover Trump's public wallet address on the blockchain, which enabled anyone to see his holdings and send him cryptocurrency.

The founders of MAGA Coin (TRUMP) sent 580,000 TRUMP tokens to the former president's wallet address when they established the project in August 2023. During that period, the tokens were valued at approximately $4,000.

The value of TRUMP tokens has experienced significant growths ince, leading to Trump's holdings now being valued in the millions. In early April 2024, the position is estimated to be worth around $2.5 million. At its highest point in early March, the tokens were valued at over $6.6 million, boosting his crypto holdings to a peak of over $8.5 million. However, the current value stands at around $5.3 million.

Sending meme coins to well-known wallets has been a common practice in the crypto space for quite some time. One notable example is Dogelon Mars (ELON), a meme coin inspired by Elon Musk's ambition to colonize Mars. The project also allocated half of its total supply to Ethereum Founder, Vitalik Buterin, who generously donated most of his allocations, transferring over 430 trillion ELON tokens, valued at around $336 million, to the Methuselah Foundation, a non-profit organization dedicated to advancing human longevity.

These projects often send their tokens to prominent wallets as a gesture of gratitude, to garner attention or freeze the supply with the famous person.

Many other meme coins have also sent their supply to Trump, but none of them have gained enough steam to make up a sizable portion of his portfolio. It is most likely that with Trump witnessing first-hand the growth of crypto, made him changed his mind on the digital asset's worth.

In 2022, Trump even went on to issuing his own NFT and he advertised them as "Trump Trading Cards", which he was selling as "much like a baseball card". Furthermore, purchase of the NFTs gives customers a chance to win "prizes", such as dinner with the former president, or a golfing excursion on one of Trump's properties.

Despite being mocked after he announced his NFT collection, the NFTs still sold out in a matter of hours, and they are now worth more than $500,000. The collection portrayed him in guises such as superhero, cowboy and astronaut, which were priced at $99.

Gold Sneakers

Trump made a surprise appearance at "Sneaker Con" in Philadelphia in February 2024 and took to the stage at the event, and announced his newest sneaker line, the $399 gold high-top sneakers. The shiny gold "Never Surrender High-Tops" features an American flag on the back and a capital "T" on the side.

It was indicated on the purchase site that only 1,000 pairs of the sneakers will be made, and they are sold alongside Trump cologne and other Trump-branded shoes on the site. The website declare that his products are "not political and has nothing to do with any political campaign".

The response he got was a mixed reaction as he introduced the shoes, with both boos and cheers ringing out around the Philadelphia Convention Center.

In 2021, Trump called crypto a "disasater waiting to happen" and was strongly against it. His stance has since changed, and said Bitcoin had "taken on a life of its own", which probably needs regulation, and that he's able to live with its existence. He has even progressed to when he allowed people to use Bitcoin to pay for Trump products, like his recent golden sneakers.

2024 U.S. President Election

Cryptocurrency holders, including those who own Bitcoin and other digital assets, may wield significant influence in the upcoming U.S. Presidential election, reports conclude.

The report highlights recent surveys indicating a rise in cryptocurrency ownership, particularly among younger voters and communities of color. It suggests that these "crypto voters" might play a crucial role in deciding the outcome of a tight race between President Biden and Trump.

With this in mind, it is undoubtedly crucial for these group of voters to pick their next president who is pro-crypto. As one might expect, Trump did came forward to state that if he were elected president again, his administration would not crack down on the use of Bitcoin or other cryptocurrencies using regulatory authority.

He described himself as a traditionalist in terms of currency and once said that he did not want people to leave the dollar. But given the situation and his previous brushes with crypto, he has definitely started to warm up to the idea of the digital currency.

"I'm very much a traditionalist. I like staying with the dollar. I hate when countries go off the dollar. I would not allow countries to go off the dollar. Because when we lose that standard, that will be like losing a revolutionary war. That will be a hit to our country just like losing a war, and we can't let that happen, and too many countries now are fighting to get off the dollar," Trump said.

Hush-Money Trial

Trump never fails to snatch headlines as he surrounds himself with constant controversy. However, this time he might have taken a step too far when he made headlines for becoming the first time in history that a former U.S. President has been tried on criminal charges.

The investigation focuses on a $130,000 payment made to Stormy Daniels by Trump's former attorney, Michael Cohen, just days before the 2016 election. The payment was intended to silence Daniels and prevent her from publicly discussing her allegations of a 2006 affair with Trump, which he has consistently denied. Daniels is an exotic dancer, porn star, and adult entertainment entrepreneur, who will be called to the witness stand in a Manhattan courtroom.

Amidst the on-going trial, both Trump and Daniels have already been openly heavily dissing one another. Trump is known for his loud outbursts, even in the presence of a courtroom and a judge. Therefore, Trump was warned by both the judge and his lawyers, against any outbursts, particularly when Daniels is on the stand.

He could face a contempt-of-court finding, fines, and even a little time in jail if he ignores the judge's orders to not disrupt the trial. However, Daniels boasts no fear of Trump. When he called her "Horseface" and a "total con job" in tweets from 2018, she one-upped him with:

Are you pro-trump for the 2024 U.S. Election?