Documents reveal $500k in Ethereum for Donald Trump

Donald Trump is likely to run for the post of US President in the upcoming election for the White House. Elections are set to happen in 2024, exactly the next year and 4 years after Donald Trump lost his seat to Joe Biden. There are many political aspects to the 2024 elections, but the one in focus at the moment is the holdings of Donald Trump in Ethereum.

Per reports that have surfaced, it is being said that Donal Trump, the former US President, holds over $500k in Ethereum. That translates to half a million in the crypto market. It is linked to this NFT collection which was launched in December 2022 in a bid to announce his run for the elections. The figures came to light after he submitted a filing to the Office of Government Ethics.

The form included a list of assets and sources of income belonging to Trump. One section showed a cryptocurrency wallet Ethereum with a value ranging from $250k and $500k.

The NFT collection features Trump himself as a cowboy, superhero, and astronaut in different poses. The collection was initially priced at $99. The sales have pitched up in the following months.

Trump’s holding in the crypto market, in any form, is critical because he has been dubious about the crypto industry since the very beginning. As a matter of fact, he even tweeted that he was not a big fan of Bitcoin and other similar cryptocurrencies. The tweet has been deleted, and his former Communications Director has claimed that the tweet was never authored by him. Meaning the tweet was published from his account, but Trump was never the one to put that up.

Trump’s old tweet has been deleted, but the former US President is still in the limelight with the recent revelation.

One reason why he was in the news again is because he had stated that cryptocurrency felt just like another scam. This statement was made by him while interacting with the media. Trump even clarified that he prefers fiat currency over cryptocurrency and does not like cryptos a bit. He has explained his preference by saying that cryptocurrency is another currency that is attempting to compete with the US Dollar, adding that he does not like that.

Donal Trump’s previous statements are not just in contrast to his recent filings but also in contrast to what some of his party members are saying. Most of them have openly come out as an advocate for the crypto market. Republicans in the House and Senate have worked extensively to draft the bills and get them cleared so that the crypto industry gets cheers.

Miami Mayor Francis Suarez and Vivek Ramaswamy, an entrepreneur, are some examples. Robert F Kennedy Jr, a candidate hailing from the Democratic Party, has also come out in support of cryptocurrencies.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

Related Articles

Back to top button