Donald Trump is in the news again, but this time it is not for political reasons; It's about cryptocurrencies. As he prepares to return as the 47th president of the United States, Trump will become the first sitting president to own meme coins, a decision that has sparked excitement and skepticism in the crypto community.
Trump: a major crypto wallet
Recent sources claim that Trump's crypto wallet It is mainly made up of meme coins and is valued at approximately $8 million. Among the assets are $1.5 million in a meme coin with a Trump-themed design and $5.5 million in TROG tokens.
Additionally, it has around 1.3 billion GUA coins, which is equivalent to almost $400,000, and $167,000 in TRUMPIUS tokens. This is the first time of its kind, where Trump becomes a rarity in the world of politics and cryptocurrencyconsidering his previous reluctance towards digital assets.
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DONALD J. TRUMP WILL BE THE FIRST PRESIDENT OF THE UNITED STATES TO HAVE MEMECOINS pic.twitter.com/ODlNXDaKIT
– Arkham (@arkham) <a target="_blank" href="https://twitter.com/arkham/status/1877798018436456578?ref_src=twsrc%5Etfw” rel=”nofollow noopener” target=”_blank”>January 10, 2025
From skepticism to support
Trump's journey into the world of cryptocurrencies is notable. He had been a <a target="_blank" href="https://www.bloomberg.com/news/articles/2025-01-09/why-crypto–bitcoin-surged-after-trump-s-election” target=”_blank” rel=”noopener nofollow”>strong critic of bitcoin and other cryptocurrencies, calling them scams. But that all changed in 2024, when he began publicly endorsing bitcoin and defending the right to own it. This is a broader trend among politicians, who increasingly recognize the potential of cryptocurrencies and his growing popularity among voters.
Trump's financial success in the digital sphere was also helped by his foray into non-fungible tokens (nfts) on ethereum. Trump reportedly made a living from these efforts and currently owns approximately 496.77 eth, worth approximately $1.6 million.
Implications for regulation
Many people are eager to see how the Trump administration will regulate cryptocurrencies now that it has returned to office. A possible shift towards a more advantageous regulatory climate for digital assets is hinted at by the appointment of top people such as David Sacks as “crypto Czar” and Paul Atkins as SEC Chairman. This could result in more precise rules for investors and companies involved in the cryptocurrency industry.
Donald Trump. Image: Ronda Churchill/Reuters
Trump's policies are already changing market dynamics and everyone is eagerly awaiting them. During this time when bitcoin hit a record high of $108,000, while meme coins surged, analysts still believe that Trump could make the year 2025 a major turning point in cryptocurrencies.
meme coin boom
The rise of Trump-owned meme coins is indicative of a broader cultural shift among younger investors who are fed up with established financial institutions. This combination of Trump's political influence and the speculative nature of meme coins creates a scenario where political events could significantly affect cryptocurrency markets. Therefore, while investors do this, they do not ignore the volatility that is usually associated with meme coins.
Featured image of Fortanix, TradingView chart
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