- 579,300 MAGA tokens—known by their ticker TRUMP—are stored in a cryptocurrency wallet connected to Donald Trump.
- The wallet associated with Trump was valued at $10 million following the recent increase in the price of MAGA tokens and other assets.
About $10 million worth of assets are stored in a cryptocurrency wallet connected to former president and front-runner for the Republican presidential nomination, Donald Trump.
Blockchain data tracker Arkham Intelligence reports that the wallet has $7.12 million worth of MAGA tokens, also known by their ticker TRUMP. According to Arkham, the MAGA tokens were first purchased on Uniswap using wrapped ether.
The wallet additionally contains one million MAGA VP (MVP) tokens, valued at about $509,000, and 463.441 ETH ($1.84 million).
The contents of the wallet exceeded $10 million earlier today and are currently worth $9.95 million.
The wallet’s value is largely derived from appreciating assets, particularly MAGA, as Arkham pointed out on X. The coin has gained 8.3% in the last day and is currently trading at $12.43.
According to CoinMarketCap price statistics, the value of MVP has decreased by 12.7% in the previous day, to roughly $0.48 per token.
Thanks to the wallet’s success, Trump continues to hold the most cryptocurrency of any celebrity, exceeding even Justin Bieber, Kevin Hart, and Jimmy Fallon.
The cryptocurrency wallet of Trump
Using details from the former president’s August 2023 financial disclosures, Arkham linked the wallet address to him.
When the connection was established, Trump was a “crypto whale” having amassed roughly $5 million in ETH and $4.9 million in royalties from the Trump Digital Trading Card NFT collection. In December 2023, the wallet traded off ETH valued as $2.4 million, as The Block had previously revealed.
During the May 25, 2024, Libertarian National Convention, Trump mentioned his support for self-custody rights, his ban on digital currencies issued by central banks, and his recent release of Silk Road founder Ross Ulbricht, who thanked him for his release from prison.
Trump expressed optimism and openness toward the cryptocurrency business despite his past criticism of bitcoin and other cryptocurrencies, indicating that this is a topic that is getting more and more political.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
