Donald Trump's Crypto Portfolio Grows By $570,000: Here's How He Made His Profits

Former President Donald Trump’s crypto wallet surged by over $570,000 in value in the past 24 hours, led by a 28% gain of a namesake memecoin called TRUMP TRUMP/USD.

What Happened: According to data from Arkham Intelligence, Trump's crypto portfolio now stands at $5.8 million, up $570,000 on the day and over $1.14 million compared to its value of $4.03 million on Feb. 20, 2024.

This rise is primarily due to the MAGA meme coin surging 15% on the day, according to CoinGecko. Trump also profited from Ethereum ETH/USD soaring to over $3,200.

The top five cryptocurrencies in Trump’s portfolio and their respective values are as follows:

• TRUMP: Trump holds 579,280 TRUMP tokens valued at $3.15 million, with each coin worth around $5.44 at the time of writing.
• WETH: Trump possesses 367.94 Wrapped Ether, worth $1.20 million.
• Ethereum: Trump’s wallet contains 340.531 Ether, valued at $1.12 million.
• BABYTRUMP: Trump’s holdings include 950,000 BABYTRUMP tokens worth $320,870 (34 cents each token).
• Polygon MATIC/USD : The portfolio also holds 4,9180 MATIC tokens worth $5,250, with each token priced at $1.05. 

Also Read: Bitcoin Breaks Above $54,000, Reaches Highest Price Since November 2021: Can It Last?

Why It Matters: Event and celebrity-affiliated meme cryptocurrencies have garnered immense interest in the crypto market.

A recent example is an Nvidia-related memecoin, which gained popularity following the company’s record fourth-quarter earnings. 

Dogwifhat surged on photos of LeBron James wearing a knitted hat like the Shiba Inu dog in the token's meme.

The MAGA meme coin has seen significant growth since its inception and continues to rise on Trump's statements that he will not allow a Central Bank Digital Currency (CBDC). The token also recently announced its expansion to the Binance BNB/USD ecosystem:

We have officially bridged to our third chain $BNB using @wormholecrypto! Contract Address: 0x4eA98c1999575aaadfb38237Dd015c5E773F75a2#Binance #BNB pic.twitter.com/JSLGFswfUN

— MAGA Memecoin (@MAGAMemecoin) February 26, 2024

What's Next: In a recent interview, the former president acknowledged the growing popularity of Bitcoin, stating, “Frankly, it’s taken a life of its own, you probably have to do some regulation, as you know.”

Read Next: Pepe Leaps Past Dogecoin, Shiba Inu For 23% Daily Gain: 'I've Been Loading Up,' Trader Says

Photo: Shutterstock