According to a recent financial disclosure form submitted to a federal ethics agency, former President Donald Trump possesses a cryptocurrency stash of potentially half a million dollars.
The Office of Government Ethics received a filing detailing assets and income sources linked to the former president. Buried within the 82-page document, on the second-to-last entry, is a mention of a “cryptocurrency wallet (Ethereum)” with an estimated value ranging from $250,000 to $500,000.
Donald Trump’s NFT footprints
This wallet seems connected to a set of non-fungible tokens (NFTs) that his campaign introduced as part of his attempt to secure another White House term in 2024 after his previous defeat to President Joe Biden in 2020.
The NFTs, a collection of digital trading cards showcasing Donald Trump in various guises like a superhero, cowboy, or astronaut, debuted at $99 each in December 2022.
Sales for these tokens gained momentum over the following months, even after Donald Trump faced his initial indictment by a New York state court. However, the token value dipped when he launched a second set in April, impacting the first set’s worth.
Despite Trump’s ownership of a crypto wallet, his historical stance on cryptocurrencies has been marked by skepticism, differing from his fellow Republicans who have shown more interest.
Trump and cryptocurrency..make sense now?
During his presidency, Donald Trump only tweeted once about crypto, in July 2019, stating that he wasn’t a supporter of Bitcoin and other cryptocurrencies. Anthony Scaramucci, Trump’s former communications director, later suggested that Trump may not have written the now-deleted tweet himself.
After his election loss in 2020, Trump voiced his skepticism on Bitcoin in a June 2021 interview with Fox Business, describing the leading cryptocurrency as feeling like a scam and expressing his preference for traditional fiat money.
This viewpoint contrasts with the positive outlook on crypto displayed by other Republicans. GOP members in Congress have been working to develop new regulations for cryptocurrencies, a stance backed by the industry, albeit with some reservations.
Within the Republican party, several contenders for the White House have embraced pro-crypto positions. Figures like Miami Mayor Francis Suarez, entrepreneur Vivek Ramaswamy, and Florida Governor Ron DeSantis have all shown support for cryptocurrency adoption, even suggesting they would address perceived hostility towards Bitcoin if elected.
On the Democratic side, a lesser-known candidate, Robert F. Kennedy Jr., has voiced strong support for cryptocurrencies. He recently revealed that he and his family own approximately 14 Bitcoin, a change from his earlier stance of not being an investor in cryptocurrencies.
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