August 17, 2023
By Anjali Kochhar
Former President Donald Trump, known for his skepticism towards cryptocurrencies, has been revealed to hold a significant amount of Ethereum in a cryptocurrency wallet. According to a financial disclosure form submitted to the Office of Government Ethics, Trump’s wallet contains Ethereum valued between $250,000 and $500,000.
The Ethereum wallet is connected to a collection of non-fungible tokens (NFTs) launched by his campaign as part of his 2024 presidential bid. These NFTs feature imaginative illustrations of Trump in various roles like a superhero, cowboy, and astronaut. Initially priced at $99 each, sales of these tokens gained momentum, though their value declined after a subsequent release crashed the market for the initial set.
This revelation is notable considering Trump’s previous criticisms of cryptocurrencies. During his tenure, he expressed his lack of enthusiasm for Bitcoin and other cryptocurrencies, even labelling Bitcoin as a potential scam. His preference for traditional fiat currency and desire for the US dollar to retain its global prominence were evident in his statements.
Trump’s stance stands in contrast to some of his Republican peers who have embraced cryptocurrencies. Certain GOP figures, like Miami Mayor Francis Suarez, entrepreneur Vivek Ramaswamy, and Florida Governor Ron DeSantis, have expressed support for crypto adoption and regulation, signalling a pro-crypto sentiment within the party.
On the Democratic side, even lesser-known candidates like Robert F. Kennedy Jr. have publicly advocated for cryptocurrencies. Kennedy and his family reportedly own around 14 Bitcoin, despite his previous statements denying his involvement in cryptocurrency investment.
Trump’s ownership of Ethereum represents a significant shift from his prior stance, revealing his engagement with the cryptocurrency market. As the 2024 presidential race unfolds, it remains to be seen whether his newfound association with cryptocurrency will influence his policies or perspectives on the rapidly evolving digital financial landscape.
About the author
Anjali Kochhar covers cryptocurrency stories in India as well as globally. Having been in the field of media and journalism for over three years now, she has developed a sharp news sense and works hard to present information that goes beyond the obvious. She is an avid reader and loves writing on a wide range of subjects.