Presidential hopeful Donald Trump has seen his cryptocurrency holdings soar past the $10 million mark this week, according to data from blockchain analytics platform Arkham. The majority of Trump’s gains are attributed to the price surge of MAGA (TRUMP), a memecoin inspired by the former president himself. At present, Trump holds approximately $7.1 million worth of TRUMP, $1.83 million worth of Ethereum (ETH), and a variety of smaller altcoins. Many of these altcoins were likely sent to Trump’s public wallet address for marketing or publicity purposes. Arkham’s data reveals that Trump’s portfolio is currently experiencing a significant upward trajectory.

TRUMP, which was launched on the Ethereum network late last year, has already witnessed an astronomical increase of about 17,200% since its inception, with a 129% surge in the last 30 days alone. The memecoin now boasts a market cap of over half a billion dollars. Trump’s portfolio growth coincides with his pledge to implement crypto-friendly policies if elected president in 2024. In a speech to his supporters in Washington D.C., Trump vowed to “crush” the Biden Administration’s anti-crypto stance and ensure that the United States becomes a leader in the crypto industry. He also expressed his support for the rights of crypto holders to self-custody their assets and promised to prevent the creation of a central bank digital currency. In line with his pro-crypto stance, Trump’s campaign is now accepting donations in popular virtual currencies such as Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), XRP, Solana (SOL), and Shiba Inu (SHIB).

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