Former U.S. President Donald Trump, well-known for his skepticism towards cryptocurrencies, has been revealed to hold between $250,001 and $500,000 in an Ethereum (ETH) wallet, according to his financial disclosure form filed in April 2023.
The wallet’s contents remain undisclosed, leaving the potential for it to encompass Ethereum, ERC20 tokens, or potentially NFTs.
The news has been widely reported; however, there are two glaring questions:
- Is Trump no longer anti-crypto?
- Why is no Polygon wallet disclosed?
Trump’s crypto and NFT position.
This report is a surprising revelation considering Trump’s public stance on cryptocurrencies. In 2019, Trump expressed his disapproval of Bitcoin and other cryptocurrencies on Twitter, dismissing them as volatile assets “based on thin air” that could potentially facilitate illegal activities.
Despite his skepticism, Trump introduced his first NFT collection in Dec. 2022, three years after his criticism of cryptocurrencies. As Soumen Datta reported, the former president launched the ‘Collect Trump Cards’ series, with each NFT costing $99 and minted on the Polygon blockchain in a bold move into the crypto space. The collection, managed by NFT International LLC, released 45,000 NFTs available for minting during the sweepstakes entry period.
However, it was not all smooth sailing for the Trump-branded NFTs. CryptoSlate reported in Dec. 2022 that the collection’s floor price plummeted by 80% in 10 days from 0.84 ETH to 0.16 ETH. Further, OpenSea data indicated a unique owner rate of only 34%, with 15,115 owners holding the 45,000 NFTs.
The launch of Trump’s ‘Series 2’ NFT collection in April 2023 saw its floor price tumble more than 10% below the purchase price. While the first collection’s sales surged up almost 500%, the floor price of both collections fell in tandem with a drop in the Bitcoin (BTC) price to $27,300.
Currently, the floor price of Trump’s initial run of trading cards is 0.1065 ETH,…
Click Here to Read the Full Original Article at Ethereum (ETH) News | CryptoSlate…
