Donald Trump Holds Ethereum Worth Up To $500K — He’s Not Cashed Out
Benzinga – A filing by former president Donald Trump on Saturday shows that he holds a significant amount of Ethereum (CRYPTO: ETH) in his portfolio.
What Happened: The disclosure, which was filed with the Office of Government Ethics, outlined Trump’s assets and sources of income. On the second to last entry of the 82-page form, there is a mention of a “cryptocurrency wallet Ethereum” with a value estimated to be between $250,000 and $500,000.
It appears that this cryptocurrency wallet is linked to a collection of non-fungible tokens (NFTs).
In December 2022, Trump made headlines by announcing his debut NFT collection, consisting of digital “trading cards” portraying cartoon illustrations of himself in heroic poses and outfits. The collection featured unique cards, including one showcasing him in a spacesuit donning sunglasses, and another depicting him as a superhero shooting lasers from his eyes.
At the time of writing, it appears that Trump has not cashed out on his ETH holdings.
Earlier, in July Trump provided details about CIC Digital LLC, a company that receives licensing fees for utilizing his likeness on NFTs. The disclosure revealed that CIC Digital LLC possesses a US bank account with a balance of less than $1,000.
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Why It Matters: Interestingly, it is worth noting that Trump expressed his skepticism towards cryptocurrencies in the past. In 2019, he said that he was not a fan of Bitcoin (CRYPTO: BTC) and other cryptocurrencies, referring to them as not being real money and having volatile value “based on thin air.”
I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity….
— Donald J. Trump (@realDonaldTrump) July 12, 2019
Price Action: As of writing, BTC was trading at $29,359 down 0.04%, in the last 24 hours, according to Benzinga Pro.
Photo Courtesy: Shutterstock.com
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