Donald Trump Earned $6 Million in One Day

Sentiment status: Neutral

The newly elected President of the United States recently reaffirmed his campaign promise to create a strategic Bitcoin reserve.

Donald Trump does not hold Bitcoin in his portfolio.

The newly sworn-in U.S. president, Donald Trump, holds a cryptocurrency portfolio valued at nearly $17 million after earning $6 million in the past 24 hours. The noteworthy detail is that the president's investments exclude Bitcoin.

According to Arkham Intelligence, the billionaire's primary asset is TROG, valued at over $10 million. This frog-themed memecoin has surged by 448% in the past week and an astonishing 1,700% over the last month. Despite its rapid rise, TROG ranks 1,080th in market capitalization, with a total valuation of $15.5 million.

Memecoins dominate 70% of Trump’s portfolio. Notably, the memecoin named after him, Trump, has gained 548% so far this year, boasting a market valuation of nearly $76 million and ranking 586th by market capitalization.

Ethereum also features in the portfolio, with a holding valued at almost $2 million.

Donald Trump’s Plans for Crypto

Donald Trump reaffirmed his campaign promise to establish a strategic Bitcoin reserve that would control up to 5% of the total supply of the leading cryptocurrency. This announcement has driven a sharp increase in Bitcoin's value over the past few weeks.

According to a proposal drafted by Senator Cynthia Lummis (Republican from Wyoming), a "Bitcoin Purchase Program" would be created to acquire no more than 200,000 bitcoins annually over five years, totaling up to one million bitcoins. States could also voluntarily participate in storing Bitcoin holdings as part of the reserve, provided they meet certain requirements, including robust security protocols.

"Establishing a strategic Bitcoin reserve to bolster the U.S. dollar with a digital hard asset will ensure our nation's position as a global financial leader for decades to come" Lummis stated in the proposal.