Former President Donald Trump has revealed significant investments in cryptocurrency and non-fungible tokens (NFTs). According to disclosures from the Citizens for Ethics group, Trump holds between $1 million and $5 million in Ethereum, with his wallet containing approximately $3.6 million in crypto assets, including $1.29 million in ETH and $989,000 in wrapped ETH. Additionally, he reported earning $7.15 million from licensing fees for his NFT collections, such as the “Mugshot” edition and Donald Trump Trading Cards.
Source: Arkham
Trump’s recent financial disclosures highlight a shift in his stance on digital assets. Once a critic of the industry, Trump has embraced cryptocurrency as a significant focus in his re-election campaign. He has pledged to establish a national Bitcoin reserve and promote the US as a leader in the crypto sector through supportive policies.
Crypto asset management firm CoinShares has noted that Trump’s potential re-election could have mixed implications for Bitcoin. While Trump’s protectionist and inflationary policies might boost Bitcoin as a hedge against geopolitical instability and a weakening US dollar, his fiscal conservatism and focus on a stronger dollar could negatively impact Bitcoin prices.
Despite potential challenges, CoinShares believes Trump’s presidency could foster a more favourable regulatory environment for digital assets, given his pro-crypto stance and his running mate J.D. Vance’s support for Bitcoin. The firm concludes that Trump’s presidency could create a mixed but potentially advantageous landscape for Bitcoin.
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Catherine