President Donald Trump holds over $5.4 million in cryptos, Ether is his largest

President Donald Trump, the man who once trashed Bitcoin for being “thin air,” now sits on a cryptocurrency portfolio worth $5,485,312.

The breakdown? Ethereum (ETH) leads the pack, with 495.664 ETH valued at $1.72 million. Polygon-based wrapped Ether (WETH) follows close, totaling 478.787 tokens and adding $1.66 million to his stash.

Trump also holds over half a million TRUMP tokens, worth a cool $1 million, and a smorgasbord of other coins like TROG, GUA, TUA, and even USDC.

The wallet names are pure Trump. There’s loveyoutrump.eth, hi.donaldtrump2024.eth, and loveiscto.eth, alongside 16 others.

From skeptic to whale

Rewind to 2019. Trump blasted Bitcoin, saying it was “not money” and was a haven for criminals. He championed the U.S. dollar, proudly tweeting, “We have only one real currency in the USA.” His administration backed his words with action, greenlighting aggressive lawsuits against crypto firms.

Ripple, anyone? The Securities and Exchange Commission (SEC) cracked down on digital assets, and Trump didn’t seem to mind.

Now fast-forward to 2024. Trump is preparing to get back in the White House, and his love for crypto is plastered all over his campaign.

During his election night party at Mar-a-Lago, Trump rubbed shoulders with Elon Musk, Robert F. Kennedy Jr., and Cantor Fitzgerald CEO Howard Lutnick. What did these three have in common? Crypto, crypto, and more crypto.

Bitcoin hit $75,000 as Trump’s victory became inevitable. Crypto-linked stocks like Coinbase and MicroStrategy soared. At some point just last week, Bitcoin was literally $300 short of $100,000.

Promises, policies, and plans: Trump’s vision

In July, Trump headlined a massive Bitcoin conference in Nashville. The event was packed with miners, investors, and blockchain geeks, all eager to hear him talk crypto. Trump didn’t disappoint. “The U.S. government will never sell its Bitcoin holdings,” he declared.

He doubled down on his stance, slamming previous administrations for auctioning seized digital assets. “For too long, our government has broken the cardinal rule: never sell your Bitcoin.”

Under his administration, Trump vowed that all seized Bitcoin would remain in government coffers. The U.S. Marshals Service regularly auctions off assets like Bitcoin, Ether, and Litecoin, sometimes spooking the market in the process. Trump said enough was enough. His message was clear: no more sell-offs.

But that wasn’t all. The president promised to fire SEC Chairman Gary Gensler. “On day one, I will fire Gary Gensler,” he proclaimed. Gensler, known for his crackdown on crypto, is despised by the industry for filing over 100 lawsuits against crypto firms. The man has since announced his resignation.

In addition to regulatory changes, Trump pledged to create a “Bitcoin and Crypto Presidential Advisory Council.” This council, as Trump explained, would be staffed with pro-crypto experts, not bureaucrats. He took shots at Senator Elizabeth Warren, calling her a “threat” to the industry.

The Bitcoin mining push: “Made in the USA”

Trump’s crypto enthusiasm extends beyond policy. He’s laser-focused on Bitcoin mining. In June, he hosted a closed-door meeting at Mar-a-Lago with major mining executives from companies like Riot Platforms, Marathon Digital Holdings, and Core Scientific.

The discussion centered on energy independence and making the U.S. a global leader in Bitcoin mining. Shortly after the meeting, Trump went on Truth Social and fired shots at his critics.

“Biden’s hatred of Bitcoin only helps China, Russia, and the Radical Communist Left,” he posted. “We want all the remaining Bitcoin to be MADE IN THE USA!”

“We’ll be creating so much electricity, you’ll be begging me to stop,” he joked at the Nashville conference. Reports also say that he is considering appointing the first-ever White House Crypto Czar.

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