This article appeared on Forbes.com
Donald Trumpowns between $250,000 and $500,000 worth of assets in cryptocurrencies. The assets referred to in the report as a “cryptocurrency wallet” appear to be linked to a collection of non-fungible tokens, or NFTs, that he sold after leaving the White House.
Donald Trump NFT Collection
In December 2022, Trump announced that he was releasing a “limited edition collection” of 44,000 NFTs in the form of cartoon trading cards featuring Trump in various guises such as a hunter, welder, and superhero.
The stickers, selling for $99 each, sold out in one day. Trump and his partner, Nft Inc Llc, released a second batch in April, which also sold out. Sales grossed over $8.9 million. The former president earned $298,000 in licensing fees from the operation, according to figures released in the report.
The billionaire who does not disdain pennies
For Trump, who is worth about $2.5 billion, a few hundred thousand dollars is a trifle. But the real estate mogul doesn’t mind easy money, even if it means selling a product he doesn’t particularly admire. “I’m not a bitcoin fan and other cryptocurrencies whose value is highly volatile and based on nothing,” he tweeted in April 2019. “Unregulated cryptocurrencies can facilitate illegal behavior, including drug dealing and other illegal activities.”
There Security and Exchange Commission has recently taken a more active role in protecting the cryptocurrency industry by going after celebrities such as Kim Kardashian. But the regulatory agency has largely avoided taking action against NFT creators and companies, meaning the NFT issue is unlikely to exacerbate the former president’s legal troubles.
Trump’s representatives did not respond to a request for comment. Bitcoin.com previously reported on the existence of Trump’s cryptocurrency holding.
READ ALSO: From Treasuries to Bonds: How Donald Trump Invests His Money
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