Even though Donald Trump has been publicly skeptical of cryptocurrencies, it seems that the former US president himself succumbed to the call of Ethereum. A recent financial report reveals that he has between $250,000 and $500,000 in assets in a cryptocurrency portfolio. But that’s not all…
Donald Trump and his unexpected interest in NFTs
From his luxurious Mar-a-Lago estate in Florida, the former President of the United States told his fervent supporters and reporters:
“The value of our currency is declining, threatening its global dominance. If this continues, it will mark our most significant decline in two centuries. Our superpower status will be compromised. »
But beyond these monetary concerns, Trump’s interest in new forms of assets is notable. The asset, referred to as a simple “crypto wallet (Ethereum)” in his financial statement, seems to be intrinsically linked to Non-Fungible Tokens, or NFTs. Following his departure from the White House, Trump surprised many observers by launching a “limited edition” collection of 44,000 NFTs.
These trading cards, depicting Trump in various guises – from camouflaged hunter to superhero – sold like hot cakes, selling out in a day despite their $99 price tag. And the collector fever didn’t stop there. A second series was launched in April, and it, too, was a runaway success.
A lucrative business
Sales of these NFTs appear to have generated over $8.9 million. Of this colossal sum, Donald Trump personally pocketed $298,000 in the form of royalties, through its entity CIC Digital.
For a man whose fortune is estimated at 2.5 billion dollars, these hundreds of thousands may seem paltry. However, it is clear that the businessman that is Donald Trump does not disdain an opportunity for profit, even if it means promoting a product to which he does not give credibility, as his earlier tweets on the Bitcoin.
While the Fed is upending Paypal’s decision to launch its crypto, the SEC has yet to target NFT creators and companies. This means that, while controversial, Donald Trump’s NFT journey remains beyond the reach of legal trouble for now. It remains to be seen how the crypto sphere will react to this revelation. For now, the former president remains silent, leaving the world to speculate on his true crypto intentions and beliefs.
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