lockchain analytics firm Arkham reported that Donald Trump's total cryptocurrency holdings had exceeded $10 million in value for the first time. This surge was largely attributed to the MAGA memecoin TRUMP, which had reached an all-time high price of $13.24 that day, up over 50% from the week before. According to Arkham's data, Trump holds around 579,290 TRUMP tokens, worth approximately $6.79 million at the peak price.
The sharp rise in TRUMP's value followed several endorsements of cryptocurrencies by Trump in recent weeks. On May 25th, he stated he was "very positive and open-minded to cryptocurrency companies, and all things related to this new and burgeoning industry." A few days prior, on May 21st, the Trump 2024 presidential campaign launched a fundraising page allowing donors to contribute via various cryptocurrencies.
Quick Fall from Peak
However, Trump's crypto fortunes proved fleeting. As TRUMP prices retreated over 8% from their high to $12.04, his holdings lost over half a million dollars in value. And as the broader crypto marketsSell-Off saw further declines in the following days, Trump's portfolio was dragged down with it. By May 28th, his total crypto assets had already fallen back to around $9.5 million - over $500,000 below the peak from just a few days prior.
This rapid fluctuation demonstrates the immense growth opportunities for early investors in young cryptocurrency assets like TRUMP, and the high risks. A single endorsement or market cycle change can mean a difference of millions in paper profits. For individual holders like Trump, a peak worth over $10 million came and went in less than a week as market forces shifted.
Trump's Other Digital Assets
Beyond just TRUMP, Trump also holds sizable amounts of other major cryptocurrencies according to Arkham. This includes 464.2 Ether (ETH) worth around $1.79 million, and 1 million MVP tokens valued at approximately $473,000 as of late May. MVP is another political memecoin that offers token rewards and supports donations to Trump's presidential campaign. However, like TRUMP, MVP had also dropped over 30% from its high around the time of Trump's crypto portfolio peak.
