Trump’s Crypto Reveal: How Much Ethereum Does He Really Own?
Donald Trump’s latest public financial disclosure shows that he holds between $250,000 and $500,000 worth of Ethereum (ETH). Trump’s 2023 OGE financial disclosure documents, released recently, highlighted an item described as a “Cryptocurrency Wallet (Ethereum)”, pegging its value within that quarter-million dollar range.
NFTs and the Trump Connection
The origin of this Ethereum holding can be traced back to Trump’s foray into the world of non-fungible tokens (NFTs). In December 2022, post his tenure in the White House, Trump embarked on an NFT venture. The limited edition NFT collection was a hit and sold out within 24 hours. It comprised 44,000 digital trading cards with Trump captured in varying costumes and poses.
Reports indicate that this NFT escapade garnered a staggering $8.9 million in sales. Out of this, Trump pocketed a neat sum of approximately $298,000 in licensing fees. The cryptocurrency wallet holding these earnings is affiliated with Trump’s entity, CIC Digital – the same entity responsible for these licensing fees.
Melania Trump’s Brush with NFTs
It wasn’t just Trump who dabbled in the digital realm. Melania Trump, the former first lady, also ventured into the NFT space. She turned several iconic images from NASA’s Apollo moon missions into digital art pieces. Priced at $75 each, these NFTs however landed in controversy. NASA took issue with this endeavor, stating that it clashed with the space agency’s merchandising rules.
Past Remarks: Trump’s Crypto Skepticism
While Trump’s Ethereum holding has caught many by surprise, it’s particularly noteworthy given his past remarks about cryptocurrencies. In 2019, Trump expressed his reservations about Bitcoin, stating he was “not a fan” and went as far as to say that its value was “based on thin air”. Fast forward to 2021, during the pinnacle of his re-election campaign, he doubled down on his crypto skepticism, branding the asset class as “fake”.
Now, with Trump’s Ethereum revelation, it remains to be seen how this disclosure might influence his future views and actions regarding the ever-evolving world of cryptocurrencies.