Here’s how much Donald Trump’s crypto portfolio is down despite election win
The post Here’s how much Donald Trump’s crypto portfolio is down despite election win appeared on BitcoinEthereumNews.com.
President-Elect Donald Trump has long been considered the more cryptocurrency-friendly option, and with the original Bitcoin (BTC) candidate, Robert F. Kennedy Jr., on his team, it hardly comes as a surprise that digital assets have rocketed since the election was called on November 6. Considering the massive inflows, one might expect Trump’s cryptocurrency portfolio to have rocketed compared to mid-October, but exactly the opposite happened. Specifically, the President-Elect’s digital assets holdings have diminished by approximately $2.35 million from their October 18 value of $7.79 million to $5.4 million at press time on November 12, per the data retrieved from Arkham Intelligence on November 12. Donald Trump cryptocurrency portfolio value and top holdings on November 12. Source: Arkham The dynamics of Donald Trump’s cryptocurrency portfolio While such a situation might appear odd, it is worth pointing out that a part of the portfolio can be attributed to campaign donations – the Trump campaign’s wallet became open for digital assets in May – and the funds are likely to have been spent on the elections. A significant drop in value was recorded on November 5 – likely due to eleventh-hour fundraising – but the portfolio rocketed days later, simultaneously with the market-wide rally. Indeed, the surge’s effect is visible in the short time frames as well, considering that late on November 11 – the time the rumors of Trump being the biggest holder of the Peanut the Squirrel (PNUT) meme coin were circulating – the portfolio stood at $5 million and surged nearly half a million since. Donald Trump cryptocurrency portfolio token balance 1-month chart. Source: Arkham These are Donald Trump’s top cryptocurrency holdings Donald Trump owns a wide selection of tokens, but MAGA (TRUMP) and Ethereum (ETH) – including its wrapped form – are by far the biggest and most notable…
Filed under: News - @ November 12, 2024 10:20 am