Donald Trump’s crypto wallet surged 50% in value following the surge in the cryptocurrency named after its MAGA movement.
What happened: The so-called MAGA coin, which trades under the ticker TRUMP, tops the list of gainers in the former president’s portfolio, Arkham Intelligence the data shows.
The value of the MAGA memecoin portfolio increased from $1.07 million on January 22 to approximately $1.61 million, with TRUMP rising from $1.85 to $2.80 currently.
The portfolio’s other noteworthy holdings include GOALS WET/USD, Ethereum ETH/USD AND Polygon MATIC/USD. The wallet shows over $2 million in profit:
Read also: “The first Memecoin I saw can rival Doge/Shib” – Crypto Fund buys TRUMP token
Because matter: The MAGA coin rally is a silver lining to its namesake. Trump has reportedly spent more than $76 million in legal fees over the past two years due to multiple lawsuits and 91 criminal charges.
Qiao Wang da Alliancedaoa network of accelerators, She said his “irrelevant thesis” from earlier this year had proven valid, that $TRUMP was a $120 million coin, trading for $7 million a day.
Talk show host Steven Steele called the TRUMP coin “the play of 2024 and just warming up.”
Another user revealed that his initial 1.5 ETH investment in TRUMP rose to $1.53 million, marking a significant increase of 440 cents from the initial call. In another tweet you said that TRUMP is not his first million dollar success.
While Trump has sought to profit from non-fungible tokens bearing his likeness, he has notably said he is “not a fan of Bitcoin or any other cryptocurrencies,” noting that their value is “based on nothing.”
Polymarket odds are in favor of Trump’s re-election in the 2024 US presidential race at 53%.
While, Moody’s analysis the president is expected Joe Biden win the 2024 election with 308 electoral votes – 38 votes more than the 270 needed to win re-election.
What’s next: THE GameStop The meme coin has also surged in recent weeks, with some pointing to it as the most legendary meme coin in cryptocurrency history.
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Image: Magamemecoin.com/Arkham