Former US President Donald Trump announced that he has $250,000 worth of Ethereum. The announcement was made in its latest financial report submitted to the Federal Election Commission on Friday.
This statement came as a surprise to many, as Trump has been fiercely critical of cryptocurrencies in the past. In July 2019, he tweeted that he is “not a fan of Bitcoin and other Cryptocurrencies, which are not money and whose value is highly volatile and based on nothing.”
He also said that cryptocurrencies “facilitate illegal behavior, including drug dealing and other illegal activities.”
However, some analysts speculate that Trump's change of mind may be related to his latest venture into the non-fungible token (NFT) market.
On December 16, 2022, Trump announced the launch of his own NFT collection called “CollectTrumpCards”. The collection included 45,000 digital trading cards that featured Trump in various appearances, including a superhero, an astronaut, and a NASCAR driver. Each of the cards sold for $99 on a website that claims to be “the first NFT platform powered by Truth Social”, Trump's new social media platform.
It is thought that Trump's ETH assets may also be linked to the proceeds from these sales.
The website also said that each card would automatically enter its recipient into a raffle for a chance to win prizes like a dinner with Trump, a golf session with Trump, or a signed memorabilia from Trump.
*Not investment advice.