Donald Trump’s Crypto Portfolio Briefly Surpasses $10 Million

Donald Trump’s cryptocurrency portfolio briefly soared past $10 million on May 27, largely thanks to the significant rise of the MAGA memecoin, TRUMP. This surge marks a notable peak in Trump’s digital asset holdings, showcasing the volatile yet potentially lucrative nature of the crypto market.

TRUMP Token Hits All-Time High

On May 27, blockchain intelligence firm Arkham reported that Trump’s crypto portfolio exceeded $10 million. This remarkable increase was primarily driven by the MAGA memecoin, TRUMP, which reached an all-time high of $13.24. Trump holds a substantial amount of these tokens—579,290 TRUMP—valued at approximately $6.79 million.

Source: Arkham

This 53% weekly surge in the TRUMP token’s value followed Trump’s endorsement of cryptocurrencies. On May 25, he expressed his support, stating, “I am very positive and open-minded to cryptocurrency companies, and all things related to this new and burgeoning industry.” This endorsement likely fueled the token’s rapid appreciation.

Also Read: Trump’s Crypto-Friendly Campaign: What It Means for the 2024 Election

Trump’s Crypto Fundraising and Portfolio Dynamics

Despite the initial surge, TRUMP prices have since declined by 8.8%, settling at $12.04 at the time of writing. Consequently, Trump’s overall portfolio value retracted to $9.5 million as the broader crypto market experienced a downturn on May 28.

The MAGA memecoin, launched in August to support U.S. veterans and child protection initiatives, bears Trump’s name but is not officially affiliated with him. According to the official MAGA website, the project has donated 234.75 ETH to U.S. veterans and 204.5 ETH to child trafficking prevention since its inception.

Beyond TRUMP: Other Significant Holdings in Trump’s Portfolio

In addition to TRUMP tokens, Trump’s portfolio includes a significant amount of Ether (ETH)—464.2 ETH, worth approximately $1.79 million. He also holds a substantial number of MVP tokens, valued at around $473,000. MVP is another memecoin that provides rewards and supports donations to Trump’s election campaign. This token hit an all-time high of $0.709 on May 17 but has since decreased by 33%, trading at $0.477 at the time of writing.