2 mins readWell, guess what? The previous U.S. President, Donald Trump, is into Ethereum (ETH)!
He spilled the beans that he's holding a considerable amount, from $250,000 to $500,000. Trump shared this exciting news in the 2023 OGE financial papers, which people can now see.
Trump's Relationship with NFTs
Do you wonder how this happened? Trump's interest in NFTs, or non-fungible tokens, might have paved the way. In December 2022, after leaving the White House, Trump came up with a cool idea to sell NFTs. He created a limited edition set of 44,000 digital cards. These cards had fun images of Trump in various outfits and poses. They sold like hotcakes, all in just a day! From this sale, Trump bagged a whopping $8.9 million. Imagine, he even got about $298,000 from just licensing fees! Most likely, the crypto wallet he used for his NFT gig is the same one he reported in his OGE papers.
Now, Melania Trump, the former first lady, couldn't resist the NFT craze. She wanted to give it a shot, too. Melania took some famous pictures of the moon landings from NASA and turned them into NFTs. Quite creative, huh? She sold these digital masterpieces for $75 a pop. Unfortunately, NASA wasn't too pleased with her venture. They said it stepped over the line and went against their merchandising rules.
Trump's Doubts Before
Funny how Trump has crypto now. He didn't like it before. Can you remember? In 2019, he said he didn't like Bitcoin (BTC). He called it "fake money" and "thin air." In 2021, while running for office again, Trump repeated his dislike for crypto.
Why's Trump having crypto important? Well, first, it means even doubters like him see its worth and invest. Second, it shows NFTs are getting popular and can make money. Third, it makes us wonder if governments will put more rules on crypto.
Wrapping Up
So, Trump's crypto holdings are big news. It's amazing that he went from being skeptical to investing in it. Plus, it highlights NFTs as good investments. On the other hand, we're left wondering about the future of crypto rules. We must see what happens with Trump's crypto and if it'll grow in value.
