A recent financial disclosure form submitted to a federal ethics agency reveals that former President Donald Trump holds a noteworthy amount of cryptocurrency.
The filing, which provides details about his assets and income sources, includes a mention of a "cryptocurrency wallet (Ethereum)" valued between $250,000 and $500,000.
This wallet appears linked to non-fungible tokens (NFTs) released during his campaign for the 2024 White House bid.
These NFTs, virtual trading cards depicting Trump in various roles like a superhero, cowboy, or astronaut, initially launched at $99 each in December 2022.
What are NFTs?
Non-fungible tokens (NFTs) are a unique type of digital asset that represent ownership or proof of authenticity of a specific item or piece of content on the blockchain.
Think of them like digital collectibles or certificates that are one-of-a-kind.
In this case, during Trump's 2024 White House campaign, NFTs were released featuring various depictions of him, similar to trading cards.
Trump's NFT Trends
Sales surged, especially after his first indictment in a New York state court, but declined after a second batch was introduced in April, causing the value of the first set to plummet.
Despite his ownership of a cryptocurrency wallet, Trump has historically expressed critical views on cryptocurrencies, differing from many within his Republican party who are supportive of the technology.
During his time in office, Trump rarely mentioned crypto, once tweeting in July 2019 that he was "not a big fan of Bitcoin and other cryptocurrencies."
After losing the 2020 re-election, Trump went further in his skepticism, calling Bitcoin a "scam" and voicing a preference for traditional fiat currency.
Trump's stance on cryptocurrencies diverges from other Republicans who have been more welcoming to the technology.