Trump’s disclosed Ethereum wallet showcases holdings estimated at around $250,000.
He has previously denounced cryptocurrencies as not money and called it a scam.
Donald Trump, the former United States President, holds a substantial amount of cryptocurrency in an Ethereum wallet. The revelation underscores the evolving relationship between politics and cryptocurrencies. The wallet appears to be linked to a collection of non-fungible tokens (NFT) that he sold after leaving the White House.
According to the Financial Disclosure, Trump’s Ethereum wallet showcases holdings estimated at around $250,000. The emergence of a prominent political figure like Trump as a cryptocurrency holder introduces a new layer of intrigue and credibility to the sector. However, this report has caused some controversy, particularly in light of Trump’s prior remarks on the world of digital currencies.
Trump’s Claims Are in Opposition to the Report
In April 2019, Donald Trump tweeted, “I’m not a fan of Bitcoin and other Cryptocurrencies, which are not money.” Moreover, he added that unregulated Crypto Assets facilitate unlawful behavior, including drug trade and other illegal activity. He has previously denounced cryptocurrencies as not money and called it a scam. Such claims are in opposition to the latest findings regarding his Ethereum holdings.
As indicated by his Ethereum investment and rumored campaign financing plans, he appears to be aware of its financial possibilities. Spokespeople for Trump did not respond to a request for comment.
In recent days, U.S. presidential candidates have continuously expressed their ideas on the crypto sector in their election campaigns. There is a rising rumor that he is investigating Bitcoin and decentralized finance (DeFi) to raise money for a prospective presidential campaign in 2024.