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Donald Trump now holds $10 million in cryptocurrencies
As of this morning, May 27, Donald Trump is on-chain cryptocurrency the holdings have exceeded the threshold of 10 million dollars.
This increase in the value of his portfolio is largely attributed to the extraordinary performance of the $TRUMP coin, a digital asset that has seen a significant increase in its price.
According to data, Trump’s holdings in $TRUMP alone are valued at $7.3 million, making up a substantial portion of his crypto assets published from ArkhamIntel on May 27.
Donald Trump’s possession of $TRUMP. Source: Arkham Intel
The $TRUMP coin, created as a tribute to the former president, has recently seen a notable increase in value. This spike can be attributed to several factors, including growing interest from Trump supporters and speculators hoping to capitalize on the coin’s unique association with the former president.
Cryptocurrency market sentiment
Additionally, the broader cryptocurrency market has followed an upward trajectory, contributing to the appreciation of various digital assets.
During his recent campaign speeches, Trump did not shy away from discussing cryptocurrencies. Historically, Trump has had a mixed stance on digital currencies. In 2019, he expressed skepticism about Bitcoin and other cryptocurrencies, labeling them as “highly volatile” and based on “nothing.”
However, his recent comments indicate a slight change in perspective, likely influenced by the growing popularity and acceptance of cryptocurrencies in mainstream finance.
In a speech earlier this month, Trump recognized the potential of blockchain technology and digital assets to transform the financial landscape. He emphasized the importance of innovation and staying at the forefront of technological advances.
In a May 25 post on Truth Social, a social media platform owned by Trump Media and Technology Group, he said:
“Our country must be a leader in this field, there is no second place.”
“We must embrace the future of finance,” Trump said, “Blockchain and cryptocurrencies offer new opportunities for growth and efficiency. We must explore and leverage these innovations to ensure our country remains a global leader.”
The Trump campaign has started to accept cryptocurrency donations on May 21 via Coinbase Trade.
Despite this more positive outlook, Trump also stressed the need for regulatory oversight to protect investors and ensure market stability. He stressed that while innovation must be encouraged, it must be balanced with responsible governance to prevent fraud and financial misconduct.