Former United States President Donald Trump is known for his business acumen and unpredictable approach to investing. He recently caught the attention of the crypto world after receiving several memecoins in his wallet. After all these airdrops, the former president now owns a sizable crypto portfolio.
Ex-President is betting everything on Memecoin
Memecoins, a type of cryptocurrency whose name comes from their often humorous or satirical origins, have grown in popularity in recent years. The most famous examples are Dogecoin (DOGE) and Shiba Inu (SHIBA), with the former gaining global recognition thanks to tweets from Elon Musk and other celebrities. The last on the list has seen a significant increase in recent days.
Donald Trump also owns a number of lucrative memecoins. Since Trump once launched his own NFT collection, it is known which Ethereum (ETH) wallet it is. These memecoins eagerly exploit this by giving him a free bag of their memecoins, in part to draw attention to the cryptocurrency.
You can say that this worked particularly well. His investments now total approximately $6.6 million. The former president owes this, among other things, to the general rise in the market. What is striking is that these Trump gains have a lot to do with a memecoin called Maga Trump (MAGA).
The memecoin makes up 60% of Trump’s portfolio. The value of the coin in their crypto wallet increases by $3.9 million. Andrew Kang, co-founder of investment firm Mechanism Capital, explains why his company is now investing in Trump-themed memecoins. According to Kang, the fact that the Trump meme coins are doing so well has primarily to do with his media activities. He also believes that Trump’s presence in the media is causing the value of memecoins to increase. This is also the case with Maga Trump:
“Memecoins are all about the attention economy, and Trump is probably one of the best attention getters in the world,” Kang said in one Post on X (formerly Twitter).
Trump’s complete crypto portfolio
In addition to Memecoins, Trump also has other crypto projects in his wallet. For example, he has significant interest in Wrapped Ether (WETH) and Ethereum (ETH). These coins represent $1.29 million and $1.19 million respectively. This is a significantly smaller portion of his portfolio compared to the Trump memecoin. Wrapped Ether accounts for 19.55% and Ethereum totals 18.03%.
The fourth coin from Trump’s crypto wallet is BABYTRUMP. The Baby Trump token also falls into the category of memecoins. Although the value of BABYTRUMP tokens has fallen recently, they remain an important part of Trump’s portfolio. Its current value is a whopping $175,450. Finally, the Republican owns the Polygon token (MATIC). Its value is only $5,210, a very small share compared to the other cryptos controlled by Trump.
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