- A new filing shows that former president Trump has more than $250,000 Ethereum to his name. Apparently, the ETH token came from the money he made from selling NFTs.
- However, it is a kind of hypocrisy since the president appears to be against cryptocurrencies. He once said Bitcoin and other cryptocurrencies are not “real.”
Despite expressing his dislike for Bitcoin and other cryptocurrencies, Donald Trump does have his own share of cryptocurrencies. Nevertheless, this is kind of ironic as the former president doesn’t quite like the industry. Before completing his tenure as the United States president, he once said he didn’t like the crypto industry. He perceived them as something that had no real value and could easily be manipulated.
Donald Trump’s History With Cryptocurrencies
- The earliest part of Donald Trump’s history into the crypto industry shows someone who doesn’t like it. Moreover, the statements he made about the crypto industry validate this claim.
- Apparently, at one point in 2019, Trump expressed his dislike for cryptocurrencies. Trump made this statement on the X platform (formerly Twitter) before he left the White House. He said, “I am not a fan of Bitcoin and other cryptocurrencies, which are not money, whose value is highly volatile and based on thin air. Unregulated crypto assets can facilitate unlawful behavior, including drug trade and other illegal activity.”
- But in recent years, Trump hasn’t kept to his word. As someone who doesn’t like the crypto industry, he shouldn’t relate to the industry. But the reverse is the case.
Donald Trump Announces NFTs
- Apparently, Trump made a surprising announcement in 2022 about the launch of his NFTs. You can imagine someone who doesn’t like the crypto industry utilizing it.
- In December 2022, Trump said his crypto group would launch a “limited edition collection” of 44,000 cards, priced at $99 each. The collection sold out within a day of launching them. Furthermore, this collection had images of Trump in diverse costumes such as superheroes, welder’s suits, and even a hunter’s camouflage.
- Donald Trump released a second batch in April 2023, and it also sold out. The Trump team made $8.9 million from the NFT sales. Moreover, Trump himself earned $298,000 in licensing fees from the NFTs.
Donald Trump Has More Than $250,000 Ethereum Tokens
- In a financial disclosure, the former president of the United States exposed himself. Apparently, after saying he dislikes crypto, he actually has some cryptocurrencies himself.
- The financial disclosure shows he has between $250,000 to $500,000 of assets in a cryptocurrency wallet. In the disclosure, he indicated the tokens were inside an Ethereum wallet. So, it appears the Ethereum assets Trump has is due to his connection with the collection of non-fungible tokens (NFTs).
- These assets, including those in the Ethereum network, are under Trump’s company and partner, NFT INC LLC.
Conclusion
The current expose on Donald Trump shows why leaders shouldn’t outrightly condemn a budding technology. During the time when he was still president of the United States, Trump said he didn’t like cryptocurrencies due to their lack of “value.” However, a recent financial disclosure shows Trump actually owns more than $250,000 in Ethereum tokens. Apparently, this came from his NFT collections.
