A crypto wallet containing over $10 million worth of crypto assets has been linked to former U.S. President Donald Trump. According to blockchain data tracker Arkham Intelligence, a major portion of the wallet holds $7.12 million worth of MAGA (TRUMP) tokens.
Second on the list of Trump’s crypto investments is Ether (ETH) as the wallet was seen holding 463.441 ETH (worth approximately $1.84 million). It also holds another 1 million tokens of MAGA VP (MVP) worth about $509,000. Interestingly, however, the leading Republican candidate has conveniently left out the largest cryptocurrency Bitcoin (BTC) from his portfolio.
Donald Trump Crypto Holding Surge, Here’s Why
In an X post, Arkham revealed what is responsible for the surge in the wallet’s overall value. The firm noted that the surge is a direct reflection of MAGA, an asset which has seen unprecedented growth in recent times.
For better perspective, MAGA, as of press time, was trading at $11.36 after seeing a 42.63% increase in the past 7 days, according to CoinMarketCap data.
With the wallet’s performance, Trump has now surpassed the likes of Kevin Hart and Justin Bieber as the prominent individual with the largest crypto holding.
Political Antics?
For many, Trump’s interest in the TRUMP coin or any crypto at all, is a ploy to sell himself to crypto enthusiasts. That is, it is an attempt to endear himself to crypto lovers.
He recently announced that he would accept crypto donations towards his campaign. Furthermore, he vowed to see to it that the future of digital currencies is secured. That was at the 2024 Libertarian National Convention on May 25, where Trump also spoke about supporting self-custody rights. Not only that. He also assured that Bitcoin and other cryptocurrencies would remain a major part of the U.S. financial system. He talked about banning central bank digital currencies and even promised to free the incarcerated Silk Road founder Ross Ulbricht.
For what it’s worth, there appears to be a political undertone to the recent happenings within the crypto space. Particularly, with Trump, who previously refused to associate with anything crypto-related. More recently, however, the Republican candidate has had a change of heart. He shared that he feels “positive and open-minded” to the industry.
