Trump-Linked Wallet Amasses $10 Million in Cryptocurrency

A wallet associated with U.S. presidential candidate Donald Trump has accumulated cryptocurrency worth approximately $10 million, according to Arkham Intelligence. 

BREAKING: Donald Trump now holds $10M in crypto

Donald Trump’s on-chain holdings surpassed $10 Million this morning, mainly fuelled by the rise in price of the $TRUMP coin — of which Trump currently holds $7.3M. pic.twitter.com/rkQi6SLvvG

— Arkham (@ArkhamIntel) May 27, 2024

According to the analytics platform, the largest portion of the assets is in the meme token MAGA (~$7.12 million). The coins were acquired for “wrapped” ETH on the Uniswap exchange. 

Trump’s wallet also contains 463,441 ETH (~$1.84 million) and about 1 million MVP (~$509,000).

Arkham noted that the increase in the politician’s asset volume is linked to a sharp rise in MAGA’s price. 

Over the past month, the asset has gained about 112%, reaching $11.9, according to CoinGecko. At the time of writing, its market capitalization stands at $555 million. 

The price of MVP increased by 20% two weeks after its appearance to $0.4756. The market capitalization of the meme token exceeded $20 million. 

Arkham experts linked the wallet to Trump using information from his financial disclosures submitted in August 2023. Since then, analysts have been tracking the address’s dynamics. 

In January 2024, the value of 579,281 TRUMP held in the wallet exceeded $1 million amid approximately a fivefold increase in the coin’s value. 

However, in April, the trading volume of the former U.S. president’s first NFT series plummeted by 99%. Earlier, media reported that sales of non-fungible tokens brought the politician up to $1 million. According to Trump’s disclosed information, he earned $298,000 in licensing fees.

In March, the politician stated that he does not plan to interfere with the use of Bitcoin or other digital assets if he wins the November elections.

He described the first cryptocurrency as an “additional form of currency” that will require specific regulation by authorities. In the politician’s view, Bitcoin has already “taken on a life of its own.”