Donald Trump's crypto wallet reaches new heights

The former president's rising popularity among crypto advocates in the U.S. is also leading to growth in his portfolio.

Former US President Donald Trump's crypto assets have exceeded the value of US$10 million. This is evident from on-chain data from Arkham Intelligence.

The reason for the rise is a new all-time high for the MAGA memecoin TRUMP at $13.24. According to Arkham, Trump owns about 580,000 TRUMP tokens with an equivalent value of nearly seven million US dollars.

The presidential candidate also owns 464 Ether (ETH) worth $1.8 million. These are from the sale of his own NFT Series.

Trump is gaining recognition among crypto investors in the United States. This is also because he has recently made several positive statements has done about Bitcoin and the like and announced its support for the technology.

As the Republican candidate in the upcoming U.S. presidential election, Trump is therefore strategically positioning himself as "pro-crypto." This seems to encourage Democratic opposition to take a more moderate stance on crypto.

The White House recently declared that it would not veto the "FIT21" bill, which is important to crypto.

The law is intended to create a clear framework for digital assets. In particular, it is intended to clarify how the SEC and CFTC regulators will divide the crypto sector from a regulatory perspective in the future. Shortly before Trump's pro-crypto statements, the White House, led by President Joe Biden, had opposed the cancellation of a SEC Directive who was hostile to crypto.

On the crypto betting platform Polymarket 56 percent of users now expect Donald Trump to win the upcoming U.S. presidential election in November.