This is how much Donald Trump has earned from his crypto holdings

12/23/2024 20:41
This is how much Donald Trump has earned from his crypto holdings

Trump once called bitcoin "a scam against the dollar," but he has since changed his stance — and profited from crypto.

President-Elect Donald Trump has amassed nearly $84 million in revenue from his crypto holdings in the past 24 months, according to Blockworks.

In December 2022, Trump announced his first set of digital collectibles at $99 apiece. In a 24-hour period, the NFTs sold out and brought Trump $4.5 million. The trading cards offered an assortment of images of Trump as an astronaut, race-car driver, and even a superhero. Investors in Trump’s initial trading card scheme received the opportunity to win an exclusive dinner or golf session with Trump at Mar-a-Lago in Florida, or a Zoom meeting with the incoming president.

Trump has also earned $7.7 million from four series of digital collectibles on Polygon, from both royalties and secondary sale revenue.

While Trump’s World Liberty Financial cryptocurrency business has raised thus far, the former reality TV star has also earned approximately $240,500 from Trump-themed meme coins named “DT Inu” and “Take America Back” under transfer taxes.

At the Bitcoin Conference in Nashville this year, Trump vowed to make America a "crypto capital" and become America's first crypto president. His campaign promises have included the creation of a strategic national crypto reserve and pledges to release Silk Road founder and prominent crypto cause célèbre Ross Ulbricht.

Last week, Federal Reserve chair Jerome Powell rejected the idea of the U.S. holding bitcoin in reserve. "We’re not allowed to own bitcoin,” Powell said. “The Federal Reserve Act says what we can own, and we’re not looking for a law change. That’s the kind of thing for Congress to consider, but we are not looking for a law change at the Fed."

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