Former U.S. President Donald Trump holds up to $500,000 in an Ethereum wallet, as revealed in a recent filing with the U.S. Office of Government Ethics.
Despite his past skepticism towards cryptocurrencies, Trump entered the NFT space last year by releasing a series of collectible NFT cards featuring his images, which quickly sold out.
While the initial NFT release generated substantial profits, a subsequent series in April also sold out, though at a slower pace. Reports suggest that Trump earned between $500,000 and $1 million from these NFT sales.
Until now, Trump maintained a consistent skepticism toward cryptocurrencies. In a tweet from 2019, he went so far as to declare himself “not a fan of Bitcoin and other cryptocurrencies,” asserting that these digital assets were “highly volatile and based on thin air.”
In a June 2021 Fox Business interview, Trump took his skepticism further, labeling Bitcoin as appearing to be a “scam” and reiterating his distaste for the leading cryptocurrency due to its role as a competing currency against the U.S. dollar.
However, despite this recent revelation, it’s plausible that the former president’s crypto holdings aren’t indicative of a change of heart regarding cryptocurrencies. This Ethereum wallet is likely associated with the non-fungible tokens (NFTs) he introduced in collaboration with NFT International LLC.
While Donald Trump’s stance on cryptocurrency has remained skeptical, it’s notable that a growing number of candidates from various political spectrums have embraced the potential of digital currencies. Among these proponents stands Democratic Presidential Candidate Robert F. Kennedy, who has displayed a more favorable attitude towards the flag-bearing cryptocurrency, Bitcoin.
Kennedy’s openness to Bitcoin is reflected in his reported holdings, which fall within the range of $100,001 to $250,000. This strategic investment underscores his recognition of the transformative power that cryptocurrencies can wield within the evolving financial landscape.
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