Donald Trump Holds Up to $500,000 in Ethereum Despite Crypto Skepticism

The former president and 2024 Republican candidate has dismissed cryptocurrency’s value.

According to a federal ethics agency’s financial disclosure form, Donald Trump owns up to half a million in cryptocurrency.

The former president listed his assets and income in a statement to the Office of Government Ethics. The 82-page form lists a “cryptocurrency wallet (Ethereum)” worth between $250,000 and $500,000 on the second-to-last line.

His campaign established a line of non-fungible tokens (NFT) to help him win the White House in 2024 after losing to President Joe Biden in 2020. The wallet looks to be tied to it.

The NFTs, a deck of virtual trading cards featuring Trump as a superhero, cowboy, or astronaut, premiered in December 2022 for $99 apiece. 

Sales of the tokens increased in the months following his first indictment by a New York state court, but they dropped after the candidate introduced a second batch in April that collapsed the original set’s value. 

Trump owns a crypto wallet despite his past criticism of cryptocurrency, which was more like his Democratic Party competitors than his Republican contemporaries.

Trump tweeted crypto once while in office. In July 2019, he declared himself “not a big fan of Bitcoin and other cryptocurrencies.” Trump’s former White House communications director, Anthony Scaramucci, told Decrypt that he doubts Trump wrote the deleted tweet.

After losing his 2020 re-election effort, Trump told Fox Business in June 2021 that Bitcoin—the first and most widely traded cryptocurrency—”just feels like a scam” and that he preferred fiat cash.

I dislike it because it competes with the dollar. The world currency should be the dollar. “I’ve always said that,” Trump told Fox’s Stuart Varney.

Others in his party love crypto, but Trump hates it. Republicans in the House and Senate have pushed crypto regulatory proposals since taking control of Congress, which the sector has supported with some reservations. 

Several GOP presidential candidates have supported crypto. 

Mayor Francis Suarez of Miami and entrepreneur Vivek Ramaswamy have actively supported cryptocurrency adoption. If elected, Florida Gov. Ron DeSantis will halt the Biden administration’s “war on Bitcoin.” Polls show these contenders significantly behind Trump. 

Robert F. Kennedy Jr., a Democratic Party longshot, supports cryptocurrency. After declaring he wasn’t an investor, he disclosed that his family owns 14 Bitcoin.

Via: 2Usethebitcoin.com

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