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The new US president, Donald Trump, owns eight different cryptocurrencies in his publicly disclosed wallet, including Ethereum and MAGA, among other tokens.
Donald Trump is evidently the most popular name in crypto right now because of the significant impact his re-election has had on the current market. Since the Republican candidate won the 2024 US election on 5 November, the crypto market has experienced one of the biggest bull runs in years. Bitcoin’s price surged up to 30% within a week of Trump’s re-election, reaching a new all-time high of $89,800.
Altcoins like Ethereum and Solana have also seen similar spikes, while meme coins such as DOGE have increased by over 100%. This significant bull run across the crypto market is largely driven by Trump’s pro-crypto sentiment. Throughout his campaign, Trump has actively lobbied for crypto-friendly regulations and vouched for making the US financial system more friendly and receptive to crypto products. He has also promised to remove anti-crypto regulators from key financial leadership positions – most notably, Gary Gensler from the SEC.
Given Donald Trump’s increasingly positive perception of digital assets, one might wonder what the new president-elect’s crypto portfolio looks like. Trump does indeed have an active crypto portfolio, valued at over $5m at the current market price. Let’s have a look at the different cryptocurrencies owned by the new US President.
An overview of Donald Trump’s crypto portfolio
According to data from Arkham Intelligence, Trump’s crypto portfolio includes eight different tokens. Surprisingly, he does not own any Bitcoin despite being one of the biggest lobbyists for the largest cryptocurrency.
The largest share of Trump’s portfolio includes Ethereum (ETH) and Wrapped Ethereum (WETH), followed by his own meme coin MAGA (Trump). The other tokens include several meme coins, such as TROG, FIGHT, and USDC stablecoin.
Donald Trump currently owns over $3m in Ethereum and Wrapped Ethereum. With the current bull run, the president-elect is sitting on over $100,000 profit with the altcoin.
The third largest asset in his portfolio is the TRUMP meme coins. Currently, Trump owns about $1m worth of TRUMP tokens. The valuation was much higher in October, and it was the largest asset in his portfolio. However, the meme coin’s price dropped by over 50% since the election, as users liquidated their profits quickly. Despite this significant drop, Trump is still sitting on $75,000 worth of unrealized profit with the meme coin.
Not all tokens on Trump’s portfolio have returned profits. Meme coins GUA and FTP are down by over 30% on his portfolio, recording an unrealized loss of over $80,000.
Trump’s crypto holdings throughout the election
It’s important to note that Trump’s crypto holdings have significantly changed throughout the election campaign. The president-elect publicly opened his wallet for campaign donations in May 2024. So, a lot of these assets were received as donations and later spent on the election.
Arkham data shows that Trump’s overall crypto balance recorded a significant drop on 5 November, the election day. This was likely due to eleventh-hour fundraising efforts, as funds might have been liquidated to cover election costs or for lobbying. However, the portfolio recovered and surged within the next few days due to the market-wide rally.
It’s also highly likely that this is not the only crypto wallet managed by Donald Trump. He might hold several other private crypto wallets with a larger portfolio. There are even rumors that the new president is the largest holder of the Peanut the Squirrel (PNUT) meme coin, which skyrocketed by over 600% in the past week.
How will Donald Trump change the US crypto industry?
Donald Trump’s election in 2024 is set to reshape the US cryptocurrency market and its regulatory framework significantly. His administration has signaled a shift toward more favorable policies for digital assets.
Regulatory changes
Trump has pledged to replace SEC Chair Gary Gensler, who has been criticized for stringent enforcement actions against crypto entities. This move could lead to a more lenient regulatory environment, potentially fostering innovation within the industry.
Additionally, Trump has proposed the creation of a strategic national Bitcoin reserve. This initiative aims to legitimize Bitcoin as a national asset, potentially stabilizing its market value and encouraging broader adoption.
Industry response
The crypto industry has responded positively to Trump’s election, anticipating a more supportive regulatory landscape. Companies are preparing for potential policy shifts that could facilitate innovation and expansion within the US market.
In short, Trump’s election is poised to bring major changes to the US crypto market, with expectations of more favorable regulations and increased market activity.
