How Bad Is Donald Trump's Crypto Portfolio Down With Bitcoin Below $58K?
Portfolio Pulse from Khyathi Dalal
Donald Trump's crypto portfolio has suffered a significant loss, with a drawdown of over $1 million in the last two days as Bitcoin falls below $58,000. His portfolio, valued at $5.17 million, includes major holdings in MAGA Memecoin (TRUMP), Ethereum (ETH), and Wrapped Ethereum (WETH). The TRUMP meme coin, endorsing Trump, has lost over 50% of its value from its peak, despite reaching a high market cap of over $400 million since its launch.
May 01, 2024 | 2:49 pm
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Donald Trump holds 421.375 Ethereum, valued at $1.22 million, and 374.5 WETH, worth $1.08 million, in his crypto portfolio.
The mention of Ethereum (ETH) and Wrapped Ethereum (WETH) in the context of Trump's significant losses due to the recent downturn in Bitcoin's price suggests a negative short-term impact on ETH's valuation. Given Trump's high-profile status and the specific mention of his holdings, this news could influence investor sentiment towards Ethereum, potentially leading to a decrease in its price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80