As of this morning, May 27, Donald Trump’s on-chain cryptocurrency holdings have surpassed the $10 million mark.
This surge in his portfolio’s value is largely attributed to the remarkable performance of the $TRUMP coin, a digital asset that has seen a significant increase in its price.
Trump’s holdings in $TRUMP alone are valued at $7.3 million, making up a substantial portion of his crypto assets, according to data published by ArkhamIntel on May 27.
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The $TRUMP coin, which was created as a tribute to the former president, has experienced a notable rise in value recently. This spike can be attributed to several factors, including increased interest from Trump’s supporters and speculators hoping to capitalize on the coin’s unique association with the ex-president.
Crypto market sentiment
Additionally, the broader cryptocurrency market has been on an upward trajectory, contributing to the appreciation of various digital assets.
During his recent campaign speeches, Trump has not shied away from discussing cryptocurrencies. Historically, Trump has had a mixed stance on digital currencies. In 2019, he expressed skepticism about Bitcoin and other cryptocurrencies, labeling them as “highly volatile” and based on “thin air.”
However, his recent comments indicate a slight shift in perspective, possibly influenced by the growing popularity and acceptance of cryptocurrencies in mainstream finance.
In a speech earlier this month, Trump acknowledged the potential of blockchain technology and digital assets to transform the financial landscape. He emphasized the importance of innovation and staying ahead in technological advancements.
In a May 25 post on Truth Social, a social media platform owned by Trump Media and Technology Group, he stated:
“Our country must be the leader in the field, there is no second place.”
“We need to embrace the future of finance,” Trump stated, “Blockchain and cryptocurrencies offer new opportunities for growth and efficiency. We must explore and harness these innovations to ensure our country remains a global leader.”
Trump’s campaign began accepting cryptocurrency donations on May 21 via Coinbase Commerce.
Despite this more positive outlook, Trump also highlighted the need for regulatory oversight to protect investors and ensure market stability. He stressed that while innovation should be encouraged, it must be balanced with responsible governance to prevent fraud and financial misconduct.
