⁠#DonaldTrump 's cryptocurrency portfolio briefly surpasses $10 million

Memecoin #MAGA rose to an all-time high on May 27, boosting Trump's cryptocurrency holdings

Former US President Donald Trump's on-chain crypto asset holdings briefly surpassed $10 million on Monday, driven primarily by his top holding token, TRUMP.

On May 27, blockchain intelligence company Arkham reported that presidential candidate Donald Trump's crypto asset portfolio exceeded $10 million.

The rise to a seven-figure portfolio was catalyzed by the MAGA memecoin, TRUMP, which rose to an all-time high of $13.24 on May 27.

According to Arkham, Donald Trump holds 579,290 TRUMP tokens, a currency valued at about USD 6.79 million.

#Memecoin has risen 53% in the last week following Donald Trump's support for cryptocurrencies.

“I am very positive and open-minded about cryptocurrency companies, and everything related to this new and burgeoning industry,” he said on May 25.

On May 21, Trump's 2024 campaign launched a fundraising page for people to donate in cryptocurrency.

However, TRUMP prices have declined 8.8% from that peak in a drop to $12.04 at the time of writing, according to CoinGecko.

This has seen the entire portfolio fall back to $9.5 million as cryptocurrency markets fell during early trading on May 28.

MAGA launched in August to donate to America's veterans and protect children. Although named after the former president, it is not officially affiliated with or endorsed by Donald Trump.