The crypto portfolio of the former U.S. President Donald Trump has exploded by nearly 4,000% as fans rally to support his re-election bid via crypto donations.
The significant growth in Trump’s crypto holdings has been particularly influenced by the airdrop of a meme coin dubbed “Save America” with the ticker symbol “TRUMP.”
TRUMP Drives Massive Increase
Data from the market intelligence platform Arkham Intelligence indicates that a wallet affiliated with Donald Trump has repeatedly received the TRUMP meme coin over the last 24 hours, with one of the transactions as recent as 30 minutes ago.
Due to the generous airdrop donations, the size of Trump’s wallet grew to approximately $9 million, up from about $7.4 million the previous day. Of the $1.57 million increment, $1.31 million came from the TRUMP meme coin.
Notably, the wallet has persistently received inflows via various meme projects since last year. As of January 1, the ex-president’s address had TRUMP tokens worth only $142.45K and ETH coins valued at $778K. With other crypto assets, the wallet was worth only $1.55 million at the time.
However, as of the latest update, the ex-U.S. president’s wallet has expanded significantly over the last four months with the TRUMP airdrop. In particular, it now holds 579.29k TRUMP tokens valued at $5.8 million. Similarly, Trump’s ETH holdings grew to $1.29 million.
Emphatically, the value of TRUMP tokens has surged from $142,500 to $5.8 million, marking an impressive 3,971% increase in Donald Trump’s cryptocurrency holdings from the meme coin since January.
Donald Trump Pro-crypto Stance
Taking to X, Steven Steele, the marketing director for the TRUMP meme coin, conveyed excitement about the accomplishment. Steele pointed out that Trump has “fully embraced” crypto and with almost seven months until the 2024 election, TRUMP has already become one of the most popular meme coin projects.
Notably, the frenzy surrounding Trump-themed meme coins can be traced back to Donald Trump’s positive stance on cryptocurrency. In a March interview, the former U.S. President announced that, if re-elected, his administration would allow Americans to use Bitcoin to pay for goods and services.
Notably, the Donald Trump wallet address also received $750,000 in various meme coins, including $457,000 in MVP and $192,000 in CONAN.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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