Donald Trump’s latest financial disclosure has revealed that the U.S. presidential candidate now owns more than $1 million in cryptocurrency. Despite having once called Bitcoin a scam, the former president has also reportedly made $300,000 on branded Bibles.
According to the filing, the Republican nominee owns between $1 and $5 million in the cryptocurrency Ethereum. It’s unclear whether he has expanded his previous investment in cryptocurrency or if the rise in value is due to the recent surge in Ethereum prices. The politician has also netted over $7 million from his foray into non-fungible tokens (NFTs).
However, his ongoing involvement in digital assets coincides with his pledge to introduce pro-cryptocurrency policies if re-elected and his family’s plans to enter the burgeoning industry. Trump told Bloomberg Businessweek: “It’s not going away. It’s amazing.
“If we don’t do it, China is going to pick it up and China’s going to have it – or somebody else, but most likely China. China’s very much into it.”
On X, his son Eric, who also heads up Trump Organization, wrote: “I have truly fallen in love with Crypto.”
I have truly fallen in love with Crypto / DeFi. Stay tuned for a big announcement…@Trump @realDonaldTrump @DonaldJTrumpJr
— Eric Trump (@EricTrump) August 6, 2024
If elected, Trump threatened to “fire” U.S. Securities and Exchange Commission chair Gary Gensler last month in front of a cheering crowd at this year’s biggest Bitcoin conference, even though there’s actually no precedent for a president sacking a leader of the agency.
JD Vance and Trump’s move towards crypto
His running mate, JD Vance, also reportedly owns a lot of bitcoin worth between $100,000 to $250,000 on the Coinbase platform. The Hillbilly Elegy author has championed crypto as an alternative to mainstream finance. Vance had also tweeted in support of crypto as a means to combat government overreach, citing the Canadian finance minister’s decision to freeze the bank accounts of truckers protesting against COVID lockdowns as an example.
This is why crypto is taking off. The regime will cut off your access to banking if you have the wrong politics. https://t.co/C88DCsehnN
— JD Vance (@JDVance) February 15, 2022
He posted: “This is why crypto is taking off. The regime will cut off your access to banking if you have the wrong politics.”
Featured image: Ideogram
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