Trump Cashes In: $1 Million Earned from TRUMP Cryptocurrency

• A Look into Donald Trump's Million-Dollar Crypto Venture
• MAGA (TRUMP) Cryptocurrency's Performance in the Market
• Political Influence on Cryptocurrency
• Trump's Cryptocurrency Ventures
• Trump's Crypto Assets
• Trump's Views on CBDCs

A Look into Donald Trump's Million-Dollar Crypto Venture

Arkham, a reputable cryptocurrency analysis firm, has reported that Donald Trump, the former US President, has earned a million dollars from the MAGA (TRUMP) cryptocurrency. The TRUMP group gifted Trump a starting sum of $7.1K in tokens from August to October 2023. The value of these initial tokens has since exceeded $1.07 million, marking a staggering growth of approximately 15000%.

MAGA (TRUMP) Cryptocurrency's Performance in the Market

Even as the cryptocurrency market is currently within a correction phase, the MAGA (TRUMP) cryptocurrency has seen an increase of more than 11% in the past 24 hours. It has also grown by over 186% on the weekly charts and has experienced a leap of more than 653% in the prior 14 days.

Political Influence on Cryptocurrency

Trump is a leading figure in the current presidential race for the White House. His gains in the New Hampshire primary round, following a win in the Iowa caucuses, have put him a step closer to the Republican presidential nomination. These recent political wins have likely contributed to the surge in the MAGA cryptocurrency's price, which began its upward trajectory in January's second week.

Trump's Cryptocurrency Ventures

The MAGA token is not Trump's first experience with cryptocurrency. The former President has previously premiered several Non-Fungible Token (NFT) collections, including the Trump Digital Trading Cards and a 2023 mugshot NFT.

Trump's Crypto Assets

A 2023 financial disclosure document reveals that Trump owns around $250,000 to $500,000 in cryptocurrency assets. These assets, which are registered as a 'cryptocurrency wallet (Ethereum$2,315 -2.42%)', are affiliated with his NFT collections, suggesting that the former president's crypto holdings may originate from his NFT sales.

Trump's Views on CBDCs

Despite his involvement in cryptocurrencies, Trump has openly shared his disapproval of Central Bank Digital Currencies (CBDCs). He has made a declaration that he will never allow the creation of a central bank digital currency if he wins the 2024 election.

Edited by Jonathan Stoker