Former US President Donald Trump is a significant holder of Ethereum, with holdings valued at $5 million. This discovery has raised eyebrows, especially given Trump’s past remarks on cryptocurrencies.
According to the report, Trump has not only held onto his Ethereum but has also profited handsomely from it. The former President has reportedly made a profit of $2.8 million from his Ethereum holdings. Furthermore, Trump has ventured into the world of non-fungible tokens (NFTs) on the Ethereum platform, earning over $4.8 million from licensing fees associated with his NFT.
The news has spurred reactions from the crypto community. TygeneCrypto, a prominent figure in the crypto space, took to Twitter to express their surprise, questioning the potential implications of this revelation on the cryptocurrency market, particularly Ethereum.
WhaleChart, another influential crypto commentator, responded with optimism, suggesting that if Trump were to be re-elected in 2024, this could have a positive impact on the crypto market.
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Show more +However, it’s essential to note the stark contrast between Trump’s investments and his public statements on cryptocurrencies. Trump has been a staunch critic of digital currencies in the past. Some of his notable criticisms include:
- Concerns that cryptocurrencies could undermine the US dollar.
- Belief that cryptocurrencies are a looming disaster.
- Strong preference for the US dollar over emerging digital currencies.
- Assertion that cryptocurrencies aren’t real money due to their volatility.
- Claiming that cryptocurrencies, including Bitcoin, are based on “thin air” and could aid illegal activities.
- Labeling Bitcoin as a scam that affects the US dollar’s value.
- Emphasizing Bitcoin’s volatility and suggesting that it’s more of an investment than a currency for daily transactions.
- Highlighting the reliability and dependability of the US dollar over cryptocurrencies.
Despite his vocal criticisms, it appears that Trump’s personal investment choices tell a different story. His significant holdings in Ethereum and ventures into NFTs suggest that he might not be as opposed to the world of cryptocurrencies as his public statements have led many to believe.
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