SUMMARY
- Former President Donald Trump holds $250,000 to $500,000 in a cryptocurrency wallet tied to Ethereum.
- Trump has launched and sold out two limited edition NFT collections featuring caricatures of himself, raising over $8.9 million.
- Despite his previous criticism of cryptocurrencies, Trump's NFT venture appears to be lucrative and free from legal scrutiny.
Donald Trump, the well-known real estate tycoon and former President, has entered the world of digital finance, holding between $250,000 to $500,000 in a cryptocurrency wallet, specifically tied to Ethereum.
This revelation comes from a financial disclosure made last month, sparking interest among both supporters and detractors. Intriguingly, the wallet seems connected to Trump's adventures in the realm of non-fungible tokens (NFTs), a space he explored after his tenure at the White House.
In a rather colorful twist to his post-presidential life, Trump launched a "limited edition collection" of 44,000 NFTs in December 2022. These digital trading cards featured caricatured versions of Trump, donned in various guises ranging from hunter's camouflage to a superhero outfit. Priced at $99 apiece, the first batch was snapped up within a day. A second release in April met a similar fate, selling out quickly.
The sales of these offbeat collectibles have racked up more than $8.9 million, and Trump himself pocketed $298,000 in licensing fees. The wallet holding these assets is part of CIC Digital, the same entity that collected his licensing fees. For a man whose net worth is estimated at $2.5 billion, this might seem like chump change, but it's proof that Trump isn't shy about making money in unexpected ways.
This investment comes with a dose of irony, as Trump had publicly disparaged Bitcoin and cryptocurrencies in the past, even referring to them as "not money" and "based on thin air." His entry into the NFT market also arrives at a time when regulatory authorities like the Securities and Exchange Commission (SEC) are taking a harder look at the cryptocurrency industry. However, the SEC has been lenient with NFT creators and companies, implying that Trump's venture is unlikely to become a legal concern.
Despite this new business venture, Trump's representatives remain tight-lipped, offering no comment. The news of his crypto holdings, however, has been previously reported by Bitcoin.com, adding another chapter to Trump's ever-evolving public profile.
WOM Money Picks
Be a part of the winning team | 81% Success Rate.