Donald Trump, a vocal critic of cryptocurrency, owns now over $1 million worth of digital assets, according his latest financial disclosure.
Former president, who had previously called Bitcoin a fraud, has amassed anywhere between $1 million to $5 million in Ethereum. This signals a change in his attitude towards the digital currency world.
This sum is small compared to Trump’s overall financial portfolio but it shows his growing interest in crypto. It’s likely an attempt to appeal to the crypto lobby, as he looks to return to the White House.
Highlights of Trump’s financial portfolio
Here’s the summary of Donald Trump’s financial disclosures.
- Cryptocurrency : Trump owns between $1 and $5 million worth of Ethereum.
- Investments in gold He owns gold bars worth $100,000 to $250,000.
- Real Estate Income: Mar-a-Lago, Florida generated approximately $57 million. This is a decrease by $8 million compared to a previous disclosure. Trump paid off between $25 million and $50,000 in mortgage debt from Deutsche Bank on his Chicago Trump International Hotel.
- Debts : Owes over $500 million due civil judgments. $83 million to writer E. Jean Carroll, for defamation; $454 million to New York Attorney General, for accounting fraud. Both judgments are on appeal and are subjected to bonds.
- Earnings derived from licensing and royalties : $12 million derived from licensing and royalty agreements. $7 million from a licensing deal with NFT. Five million dollars in royalties from his books “Letters To Trump” and “Our Journey Together.” 300,000 dollars from a Bible he published with country singer Lee Greenwood.
- Net Worth and Business Ventures : Trump’s fortune has been estimated at $6.5 billion. This is largely because of a SPAC merger involving Trump Media & Technology Group. However, the value of this media group has decreased by $1.3 billion in recent times.
Is Donald Trump more crypto-friendly than other candidates?
This pivot is especially noteworthy, as tech executives and cryptocurrency leaders increasingly view Trump a more positive candidate than President Joe Biden or vice president Kamala Harris.
Trump’s running-mate, Senator JDVance of Ohio is also a well-known advocate for cryptocurrency. According to his most recent financial disclosure, his personal Bitcoin holdings range between $100,001 and $250,000.
Trump’s engagement in the crypto community is more than just an investment.
Trump made bold promises about the crypto sector during a speech he gave to a crowd in Nashville of 3,000 people at the Bitcoin Conference.
On his first day, he promised to fire Gary Gensler, the SEC chairman, who is a known enemy of cryptocurrency.
Trump also pledged to establish a national strategic Bitcoin reserve and declared the US must become a crypto superpower.
He compared Bitcoin to the steel industry 100 years ago in an attempt to hint at its potential to reshape global economics.
Trump and the NFTs
Trump has not only invested in cryptocurrency, but also benefited from the booming non-fungible (NFT) token market.
His NFT venture has been extremely profitable. He earned $7.15 millions from his unique digital collection.
Trump entered the NFT market in 2022, with a collection of images featuring him as a cowboy, astronaut, and superhero. This venture quickly gained traction with his supporters.
Trump and his wife Melania have fully embraced NFT despite their initial skepticism.
Melania Trump launched a NFT collection featuring her “cobalt-blue eyes” and earned $330,609 from licensing fees.
In August 2023 Trump expanded his NFT collection with a new one titled “MugShot,” which was centered around his ongoing legal battles.
Trump’s success in his previous collections has encouraged him to continue this space.
In an interview with Bloomberg Businessweek in June, he hinted that a fourth NFT Collection would be released, citing the overwhelming demand of his fans.
“I’ve done it three times and I’m doing another one because people want me to,” Trump said. He expressed confidence in his digital ventures.
Trump’s entry into the worlds of cryptocurrency and non-fiat currencies not only demonstrates his adaptability, but also positions him in a significant position within the rapidly evolving digital assets landscape.
Trump’s financial strategy reflects a keen understanding for modern investment trends as he navigates through the political arena.
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