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Former United States President Donald Trump’s latest public financial disclosure has revealed that he owns around $250,000 to $500,000 worth of Ethereum (ETH).
Trump had recently launched an exclusive non-fungible token (NFT) collection after leaving the White House in 2022.
Trump Holds Considerable ETH
The financial disclosure was filed with the Office of Government Ethics and outlined Trump’s various assets and sources of income. Eagle-eyed observers noticed a section that mentioned a “cryptocurrency wallet Ethereum” on the second to last entry on the 82-page form. According to the information in the financial disclosure, the wallet held an estimated $250,000 to $500,000 worth of ETH. It is believed that the contents of the cryptocurrency wallet are linked with the NFT collection launched by Trump in December 2022.
The Trump NFTs
The former president launched his NFT collection in December 2022 after weeks of speculation regarding his “special announcement.” Many believed the announcement would be naming a running mate for his presidential campaign. However, Mr. Trump announced the launch of his exclusive NFT collection instead. The collection features the former president in several avatars, including a Nascar driver and an astronaut. At the time of the launch, Mr Trump had stated,
“These limited edition cards feature amazing ART of my Life & Career. It would make a great Christmas gift. Don’t Wait. They will be gone; I believe, very quickly!”
He had also posted a clip that featured an animated version of himself standing in front of the Trump Tower, with lasers shooting out of his eyes. The NFT collection was described as similar to baseball cards but far more exciting and priced at $99 each. Buyers of the collection will also be able to enter a sweepstake and have a chance at winning a gala dinner or a game of golf with Mr. Trump. However, the move was roundly criticized on social media, with several high-profile Republicans speaking out.
Following her husband’s footsteps, the former first lady also launched an NFT collection only a couple of months after the former president’s NFT collection. Each NFT in the Melania Trump collection is priced at $50. The collection consisted of seven designs, with a total of 3500 NFTs. The former first lady had stated at the time of launch,
“The 1776 Collection of artwork draws inspiration from several iconic landmarks of our nation, which I had the privilege of visiting during the time I served as first lady. Each piece provides a view into our nation’s history, culture, and patriotism. I am proud to celebrate our great nation and remain inspired by the words contained within the Declaration of Independence.”
Past Skepticism Of Crypto
The disclosure that the former president owns a considerable amount of ETH is interesting, especially when you consider how skeptical he had been about crypto in the past. Back in 2019, Trump had stated that he was not a fan of Bitcoin and described it as “not money” with its valuation based on thin air.
“I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity....”
Trump reiterated these views in a 2021 interview, once again highlighting his opposition to the crypto ecosystem and digital assets. He stated that he was quite wary of digital assets such as Bitcoin because they were a threat to the dollar. He even called the world’s largest cryptocurrency a scam, stating,
“Bitcoin just seems like a scam…I don’t like it because it is another currency competing against the dollar. Essentially it’s a currency competing against the dollar. I want the dollar to be the currency of the world. That is what I have always said.”
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.