Donald Trump's Reported $33M Crypto Portfolio Peak Is Now Down to $8M. How Much Did He Lose In The Past Month?

07/10/2024 01:50

Former President Donald Trump's crypto ventures have been as turbulent as his political career, with significant highs and lows. His public crypto portfolio, mostly containing Trump-themed meme coins and some Ethereum (ETH), exhibited a massive correction following recent market downturns. Trump's portfolio underscores the volatility of allocating most of your holdings to tokens without utility amid a Bitcoin (BTC) pullback. Don't Miss: 1 in four Americans own a share of Bitcoin according to Nas

Don't Miss:

1 in four Americans own a share of Bitcoin according to Nasdaq, how many people got started through this free crypto faucet?
If you invested $100 in DOGE when Elon Musk first tweeted about it in 2019, here’s how much you’d have today.

Trump's crypto portfolio had an impressive rally back in June — primarily fueled by meme coin donations from the tokens' teams. Most notably, MAGA (TRUMP) and TROG (Trump Frog) donations led to the parabolic move for Trump's crypto wallet.

In 2023, the owners of TRUMP transferred around 580,000 TRUMP tokens to Trump's portfolio when TRUMP's price was just a few cents. At TRUMP's peak price of $17.50, these tokens were worth over $10 million. Mimicking TRUMP's marketing scheme, the TROG team donated around 210 billion TROG (half the token's supply) to Trump in June 2024 (around his legal battles). This "donation" marketing strategy proved successful; TROG's price increased over 16 thousand percent from its launch, soaring to $0.0001 (making Trump's TROG holdings worth around $20 million).

Trump's portfolio rallied past $30 million (up over 8,000 percent from $362k in 2023), generating buzz across political and financial media. Arkham Intelligence, with nearly half a million followers on X (formerly known as Twitter), tweeted on June 5, "Now over $30M," with a screenshot of Trump’s portfolio totaling $33,396,620.96.

Trending: According to Cathie Wood, holding six Ethereum (ETH) could make you a millionaire, here’s why it can be true.

However, these gains were unsustainable due to broader market corrections and negative sentiment. Trump's portfolio quickly fell from $33 million to $21 million overnight. With Bitcoin losing major support levels, altcoins (especially meme coins) took a huge hit — even the multibillion dollar market cap Dogecoin (DOGE) fell over 50% since late March. TRUMP's current price is just above $5, down over 70% from all-time highs. Moreover, TROG fell a staggering 93% over the past month to its current price of around $0.000007.

According to Arkham Intelligence, Donald Trump’s crypto portfolio fell approximately 75% to $8 million over the past month. Trump's portfolio comprises approximately $3.5 million worth of TRUMP, $1.5 million of ETH, $1.5 million of TROG, $1 million of Wrapped Ethereum (WETH), and an array of smaller positions in other meme tokens.

The rapid depreciation of Trump's portfolio underscores the inherent risks of investing in crypto, especially in niche tokens. In a month, Trump has lost over $22 million holding onto these digital assets. This drastic decline is not rare for those overly invested in community-driven tokens with minimal utility, as these tokens have the lowest conviction and are most subject to price fluctuations.

As the crypto market continues to evolve, Trump's experience exemplifies the harsh realities that can coincide with meme coin investments. This journey highlights crypto's volatility and unpredictability. While his portfolio once enjoyed a remarkable peak valuation, the past month is a stark reminder of crypto's brutality. This stresses the importance of market awareness and risk management for successful investing.

Read Next:

Elon Musk and Jeff Bezos are bullish on one city that could dethrone New York and become the new financial capital of the US. Investing in its booming real estate market has never been more accessible.
Amid the ongoing EV revolution, previously overlooked low-income communities now harbor a huge investment opportunity at just $500.

"ACTIVE INVESTORS' SECRET WEAPON" Supercharge Your Stock Market Game with the #1 "news & everything else" trading tool: Benzinga Pro - Click here to start Your 14-Day Trial Now!

Get the latest stock analysis from Benzinga?

This article Donald Trump's Reported $33M Crypto Portfolio Peak Is Now Down to $8M. How Much Did He Lose In The Past Month? originally appeared on Benzinga.com