Former President Donald Trump has revealed that he holds substantial cryptocurrency holdings, but it’s not Bitcoin.
According to a financial disclosure form filed with the Office of Government Ethics, Trump owns between $250,000 and $500,000 worth of Ethereum.
This is a significant departure from Trump’s previous stance on cryptocurrency. In 2019, he called Bitcoin a “scam” and said he didn’t like it because it was “another currency competing against the dollar.”
It’s unclear when Trump first began investing in Ethereum, but it’s likely that he did so after leaving office in January 2021.
Trump holds Ethereum
Trump’s disclosure of his Ethereum holdings comes at a time when the cryptocurrency market is in a state of flux. Bitcoin has lost more than half of its value since its all-time high in November 2021. Ethereum has also lost ground, but it has fared better than Bitcoin.
It’s unclear what Trump’s plans are for his Ethereum holdings. He could sell them, hold them for the long term, or use them to invest in decentralized applications.
Trump’s disclosure of his Ethereum holdings is a sign that he is taking cryptocurrency more seriously. It remains to be seen whether he will continue to invest in cryptocurrency, but his current holdings suggest that he is at least open to the possibility.
Analysts Weigh In
Analysts are divided on the significance of Trump’s disclosure of his Ethereum holdings.
Some analysts believe that it is a sign that Trump is bullish on cryptocurrency and that he believes it has the potential to be a major asset class. They point to the fact that Ethereum is a more versatile platform than Bitcoin and that it has a larger community of developers.
Other analysts believe that Trump’s disclosure is more of a publicity stunt. They note that he has a history of making controversial statements about cryptocurrency and that he may be trying to pump up the price of Ethereum.
Only time will tell what Trump’s true intentions are. However, his disclosure of his Ethereum holdings is a sign that he is at least paying attention to the cryptocurrency market.