President Donald Trump holds crypto. According to a financial disclosure released in July, Trump holds anywhere between $250K and $500K in Ethereum-based assets in a crypto wallet.
Donald Trump is a Crypto Holder, Allegedly
The news is interesting because many people likely remember in 2019 when Trump openly spoke ill of digital currencies like bitcoin. During that period, he stated:
I am not a fan of bitcoin and other cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated crypto assets can facilitate unlawful behavior, including drug trade and other illegal activity.
The assets stem from a series of non-fungible tokens (NFTs) that he sold in December of 2022. Approximately 44,000 tokens were available for purchase, and they all sold out rather quickly, suggesting that the 45th president’s popularity isn’t dying out anytime soon. The tokens featured Trump in various outfits and getups including a welder’s suit and hunter’s camouflage. Others showed him a superhero costume. The tokens sold for approximately $99 each.
The sales led to just shy of $9 million in new revenue. In addition, Trump pulled in close to $300K in licensing fees, though this is small beans when one looks at the real estate mogul’s net worth of roughly $2.5 billion.
Not long ago, Live Bitcoin News put out an opinion piece suggesting Trump was likely the only savior left for the crypto arena. While there are plenty of republican and democrat presidential candidates out there right now like Robert Kennedy Jr., Vivek Ramaswamy, and Ron DeSantis who claim to be pro crypto and have big plans for it should they take the White House next year, Trump has a proven track record of balancing the economy and promoting individual freedoms that may be stepped on should other candidates win the race.
The Only Man Who Can Save the Arena?
One of the big clinchers of Trump’s presidency was that the economy was equally slated throughout most of the four years he was in office. It wasn’t just crypto that did well, or stocks or precious metals, for that matter. They all seemed to be perfectly in tune, which is what investors should be craving. Without balance, it doesn’t matter how well one asset class does. The other two could suffer, which may lead to further economic turmoil.
In any case, what crypto investors likely have no doubt of now is that another term for Joe Biden, the man currently occupying the White House, would likely mean the death of crypto. Biden has repeatedly worked hard to make traders’ lives hard through his phony infrastructure bill aimed at crypto fans, his 30 percent crypto mining tax proposal, and his attempts to implement an Obama-era policy that would shut crypto companies out of the standard monetary space.
