Donald Trump, who has previously expressed doubts about the value of cryptocurrencies, now owns a significant amount of Ethereum. This is how the former president surprises everyone with his involvement in the world of virtual currencies.
In the latest financial document submitted to the federal ethics body, it was revealed that Donald Trump holds between $250,000 and $500,000 in Ethereum cryptocurrency. Although the former president has never been a fan of cryptocurrencies, his assets seem to contradict this.
Why did Trump decide to invest in Ethereum? The answer might lie in non-fungible tokens (NFTs) that his campaign launched as an attempt to return to the White House in 2024. These virtual collector cards depicting Trump in various roles – as a superhero, cowboy, or astronaut – were introduced to the market in December 2022 at a price of $99 each.
The sale of these tokens has significantly increased in the following months, despite Trump’s critical comments on cryptocurrencies. His attitude towards them is surprising given that during his presidency in 2019, he wrote on Twitter that he is not a big fan of Bitcoin and other cryptocurrencies.
After losing the presidential election in 2020, Trump called Bitcoin a “scam” in an interview with Fox Business, clearly emphasizing his preference for traditional currency. His approach to cryptocurrencies differs from other prominent figures of the Republican Party who see great potential in them. For instance, the Mayor of Miami, Francis Suarez, and entrepreneur Vivek Ramaswamy openly support the adoption of cryptocurrencies.
On the other hand, the Democratic candidate, Robert F. Kennedy Jr., also turned out to be a supporter of cryptocurrencies, revealing that he owns about 14 Bitcoins.
So, why did Trump, known for his critical comments on cryptocurrencies, decide to make such a significant investment in Ethereum? It might be an attempt to use modern technology to increase his chances of returning to the White House. Or perhaps he simply realized that, despite earlier reservations, cryptocurrencies have a future? One thing is certain – in the world of cryptocurrencies, nothing is predictable.
