Donald Trump has been making quite some noise in the cryptocurrency market. His recent victory as the 47th President of the United States caused an uproar in the industry. The entire market turned green, and Bitcoin (BTC) was seen surging to new highs every day. One may have anticipated that Trump’s cryptocurrency holdings would have skyrocketed, but this was not the case.
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A Deeper Look Into Donald Trump’s Portfolio
According to recent data from Arkham Intelligence, Donald Trump’s holdings of digital assets had decreased by about $2.35 million from their October 18 worth of $7.79 million to $5.4 million.
It should be noted that Trump holds a variety of cryptocurrencies. But his largest and most well-known assets are by far MAGA (TRUMP) and Ethereum (ETH), including its wrapped form. In particular, he owns $3.28 million in ETH and wETH and about $828.38K in TRUMP.
Considering Trump’s win and its impact on the entire cryptocurrency ecosystem, the community expected to witness a spike in the president-elect’s portfolio. But, it is important to note that a portion of the portfolio might be linked to campaign contributions. In May, the Trump campaign opened its wallet to digital assets, and the money was probably used for the elections.
In addition, November 5 saw a notable decline in value, most likely as a result of last-minute fundraising. The cryptocurrency portfolio, however, skyrocketed a few days later, coinciding with the market-wide surge.
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Will Dogecoin Join This List?
Earlier today, Donald Trump shook the ecosystem with his latest announcement. He announced the creation of the Department of Government Efficiency and appointed Tesla’s Elon Musk and Vivek Ramaswamy, a former Republican presidential candidate, to lead the agency.
Several speculate that Musk’s close involvement with Trump would influence his investments. The community hopes that Musk will push the president to bet on some Dogecoin. Currently, DOGE was priced at $0.3621 following a 10% drop over the past 24 hours.
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