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Donald Trump's Cryptocurrency Assets Increase by $6.1 Million in 2023

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2 hours ago

Former U.S. President Donald Trump has increased his cryptocurrency holdings by $6.1 million this year, with a significant portion held in meme coins.

Growth of Trump's Crypto Assets

According to Arkham, a wallet reportedly linked to Donald Trump increased its holdings by $6.1 million this year. More than 65% of his portfolio consists of meme coins. The largest holding is $3 million in a token called TRUMP, followed by Ether and Wrapped Ether (WETH). Other altcoin holdings are below $1 million each.

Shift in Trump's Stance on Digital Assets

Trump's foray into cryptocurrency began with a 2022 NFT collection that grossed almost $5 million in one day. Previously, he called digital currencies like Bitcoin a 'scam,' but his success with NFTs seems to have softened his stance. Recently, he spoke at the annual Bitcoin conference in Nashville and announced the World Liberty Financial project, associated with DeFi and a new token called WLFI.

Impact on Political Campaign

In this election cycle, Trump has garnered support from technology executives and crypto enthusiasts who view him as more approachable than Joe Biden or potential Democratic candidate Kamala Harris. Trump's vice presidential pick, Ohio Senator J.D. Vance, is also crypto-friendly.

Engaging the cryptocurrency community and being open to digital assets may provide Donald Trump with a strategic advantage in the political race.

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