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- Former U.S. President Donald Trump, who is running for office again, has declared ownership of ETH assets valued between $250,000 and $500,000.
- Trump acquired these ETH assets from the sale of his NFT collection after leaving the White House.
- Despite his previous criticism of Bitcoin and other cryptocurrencies during his presidency, Trump has profited from the NFT and crypto market.
Ex-President Donald Trump, who is seeking re-election, has declared Ethereum assets worth between $250,000 and $500,000. These assets were gained from the sale of his NFT collection post his White House tenure.
Trump’s Foray into the World of NFTs and Cryptocurrency
After his departure from the White House, Donald Trump ventured into the realm of Non-Fungible Tokens (NFTs). He launched his own NFT-based card collection last December, which consisted of 44,000 NFTs, each priced at $99. The collection sold out within a day, prompting him to release a second collection, which also sold out quickly. The sales generated over $8.9 million in revenue, with Trump earning $298,000 in licensing fees.
Trump’s Stance on Bitcoin During His Presidency
Despite his recent involvement in the crypto market, Trump, whose total wealth is estimated at $2.5 billion, had previously expressed strong criticism of Bitcoin and other cryptocurrencies during his presidency. He had stated on his Twitter account that he was not a fan of Bitcoin and other cryptocurrencies, whose value is highly volatile and are not real money. He also suggested that unregulated crypto assets facilitated illegal activities, including drug trafficking. He had even advised then Treasury Secretary Steve Mnuchin to “go after Bitcoin,” according to a book by former U.S. National Security Advisor John Bolton.
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Trump’s Involvement in the Crypto Market: A Change of Heart?
Despite his past criticism of cryptocurrencies, Trump’s recent involvement in the NFT and crypto market indicates a possible change of heart. His successful foray into the NFT market and the declaration of his Ethereum assets suggest that he now sees the potential and profitability of the crypto market. However, whether this change in attitude will translate into a more favorable stance towards cryptocurrencies if he is re-elected remains to be seen.
Conclusion
In conclusion, former President Donald Trump’s recent involvement in the NFT and crypto market, despite his past criticism of cryptocurrencies, indicates a shift in his perspective. His successful venture into the NFT market and the declaration of his Ethereum assets suggest that he now recognizes the potential and profitability of the crypto market. Whether this change in attitude will influence his policies towards cryptocurrencies if he is re-elected remains to be seen.
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