Donald Trump’s Crypto Wallet Sells $2.4 Million Worth of ETH
According to Arkham Intelligence, the crypto wallet linked to Donald Trump has sold approximately 1,075 ETH for a value of $2.4 million. The transfers of ETH to Coinbase began three weeks ago and are the proceeds from the sale of Trump’s NFTs, including the “Mugshot Edition” collection. Trump’s wallet had accumulated ETH profits with a peak value of $4 million.
The Election Campaign
The upcoming presidential elections in the USA are scheduled for November. Trump aims to be the Republican Party candidate but must first win the primaries. Although he currently has an advantage in the polls, former governor Nikki Haley is emerging as a contender.
The Price of Ethereum
The price of ETH recently reached a new annual high, surpassing $2,400. It has gained 53% in just over two months. When Trump’s wallet started selling ETH, the price was already above $2,300.
Trump’s NFTs and Sold Cryptocurrencies
Last year, Trump launched his collection of NFTs when the price of ETH was below $1,300. By selling now, he has doubled his earnings due to both NFT sales and capital gains from ETH’s increase in price during 2023.
Trump and Cryptocurrencies: Beyond Arkham’s Report
During his presidency, Trump expressed opposition to Bitcoin and cryptocurrencies but seemed to change his stance in late 2022. It is also worth noting that Democrats are campaigning against cryptocurrencies while Trump sells NFTs to raise funds for his election campaign.
Hot Take: Donald Trump’s Crypto Wallet Sells $2.4 Million Worth of ETH
Donald Trump’s crypto wallet linked to his NFT sales has sold approximately $2.4 million worth of ETH. The sales come at a time when the price of Ethereum is reaching new highs. This move raises questions about Trump’s stance on cryptocurrencies, considering his previous opposition to Bitcoin and the Democrats’ anti-crypto campaign. Despite the collapse of the NFT market, Trump has managed to double his earnings through the increase in ETH’s market value. This sale also highlights the growing intersection between politics and cryptocurrencies as candidates explore new ways to raise funds for their campaigns.
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