Donald Trump Makes $1M After Altcoin Surges 15,000%
Former US President Donald Trump has seen a substantial increase in wealth, reportedly making $1 million through his association with the MAGA (TRUMP) cryptocurrency.
Trump’s involvement commenced when he received tokens valued at $7.1K from the TRUMP team between August and October 2023. Presently, the worth of these holdings has surged to exceed $1.07 million, representing a staggering growth of approximately 15,000%.
Donald Trump makes $1M on TRUMP Memecoin
Donald Trump’s holdings of TRUMP have just passed $1M.
He originally received $7.1K of TRUMP from the TRUMP team between August-October 2023, which is now worth over $1.07M.
That’s 150x. pic.twitter.com/u1Em8xReUl
— Arkham (@ArkhamIntel) January 22, 2024
Even in the midst of a broader correction in the cryptocurrency market, MAGA (TRUMP) has demonstrated remarkable resilience. Over the last 24 hours, the cryptocurrency has experienced an increase of more than 11%, marking an impressive 186% surge in the weekly charts and an astonishing 653% uptick in the past 14 days.
Donald Trump, the former US President, is actively participating in the ongoing race for the White House and has strengthened his position as a frontrunner. His recent triumph over Nikki Haley in the New Hampshire primary, coupled with prior successes in the Iowa caucuses, has solidified his standing in the political arena.
The positive outcomes in Trump’s political journey seem to have played a significant role in influencing the upward movement of the MAGA cryptocurrency. The surge in the asset’s value initiated during the second week of January.
READ MORE: Celsius Shifts Millions in Ethereum Amid Restructuring
It’s worth noting that this isn’t Trump’s initial venture into the cryptocurrency domain. In addition to MAGA, he has launched several Non-Fungible Token (NFT) collections, including the Trump Digital Trading Cards and an NFT featuring his well-known 2023 mugshot.
A financial disclosure document from 2023 reveals that the former president holds cryptocurrency assets ranging from $250,000 to $500,000. These assets are listed under ‘cryptocurrency wallet (Ethereum)’ and are directly linked to his NFT collections, indicating that the profits from NFT sales contribute to his cryptocurrency portfolio.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
