Donald Trump’s Crypto Portfolio Takes a Hit: Loses Over $3 Million in 60 Days
Republican presidential nominee Donald Trump has been in the news recently for his involvement in the crypto world, but not for the reasons you might expect. Despite claiming to have “fun” with crypto, Trump has reportedly lost over $3 million in just 60 days due to a downturn in his crypto portfolio.
Trump’s foray into the world of cryptocurrency began with the Trump Digital Trading Cards NFT collection, which sold 45,000 NFTs for $99 each, earning him more than 1,700 Ethereum (ETH). He also released a collection of sneakers at a Sneaker Con in Philadelphia, which sold out quickly with many buyers using cryptocurrency as payment.
One of the tokens that Trump has made millions on is MAGA Coin (TRUMP), which saw a significant increase in value from less than $0.01 at launch to an all-time high of over $11.50. However, the price of TRUMP has since fallen considerably, with the tokens now worth around $2.5 million.
Despite the losses, Trump remains optimistic about his crypto investments, referring to them as “crazy new currencies.” His portfolio consists mostly of ETH and TRUMP, as well as over 60 other meme coins sent to him by fans.
While the losses are currently on paper and not realized, Trump’s crypto portfolio could potentially be a valuable asset for paying off legal fees and penalties in the future. Only time will tell if Trump’s crypto investments will bounce back or continue to decline.
Overall, Trump’s experience with crypto serves as a reminder of the volatile nature of the market and the risks involved in investing in digital currencies. Stay tuned for more updates on Trump’s crypto journey as the story continues to unfold.
