Trump’s Crypto Empire: Dominates TROG Memecoin with Over 50% Stake in a $32M Illiquid Portfolio

Donald Trump’s crypto portfolio, as detailed by Arkham Intelligence, has seen a significant increase in value over the past three months, peaking at approximately $32 million due to a surge in memecoins.

His holdings are diversified across several tokens, with notable holdings in TROG, TRUMP, ETH, and WETH.

Trump’s Major Holdings and Market Impact

Trump’s largest holding is in the TROG token, with 210.345 billion tokens valued at approximately $21 million. This represents over half of TROG’s total market cap of $36 million, indicating a substantial concentration of his portfolio in this single asset.

The price of TROG is approximately $0.0001. It has risen by over 160% in the last 24 hours after his supporters realized his holding in the token. The TRUMP token, another significant holding, is valued at $7.61 million, with 579.29 thousand tokens priced at $13.13 each.

TROG capitalizes on the ongoing popularity of frog-themed memecoins like PEPE, intertwined with themes drawn from Trump’s political branding. TROG’s creators describe it as a blend of meme culture and financial strategy, aimed at capturing both the humor and investment potential of the crypto market.

The official TROG website playfully notes: “Welcome to the wacky, wild world of Trog (Trump Frog) – the meme coin that’s here to make crypto great again! Born from the legendary internet culture and inspired by the one and only Donald Trump, Trog combines the hilarity of memes with the revolutionary spirit of cryptocurrency.” 

Cultural and Financial Context of TROG 

The inception of TROG is rooted in internet meme culture, specifically a photoshop meme featuring Donald Trump with a green frog painted over his mouth and chin. This meme gained popularity when artist Mike Mitchell tweeted several altered photographs of Trump in May 2017.

Within a week, the original tweet amassed over 31,600 likes and 14,300 retweets. The meme quickly spread, with additional photoshopped images being shared widely on social media platforms and covered by news outlets like Bored Panda, Mashable, and The Daily Dot.

The strategic airdrop of TROG to Trump’s wallet, which includes half of the total supply, appears to be a calculated move by the developers to harness his public profile and influence. However, despite the significant nominal value of these holdings, the practical implications of liquidating such a large amount of TROG at market value are questionable. As Arkham pointed out, “with this much of the supply, it is unlikely that Trump would be able to sell it for market value, if he even knew it existed.”

Most of Trump’s earnings appear to stem from donations and projects airdropping tokens to his wallet, alongside royalties from his TRUMP NFT collection. Despite the impressive total value of his portfolio, which has jumped to around $30 million, a significant portion of this wealth is illiquid. This is due to the lack of market depth and volume in some of the memecoins he holds, such as TROG, which had a trading volume of only $20 million in the past 24 hours.

This illiquidity could pose challenges in realizing the full value of his holdings, meaning these are paper profits only. His Ethereum (ETH) holdings amount to 471.79 ETH, valued at $1.80 million, while his Wrapped Ethereum (WETH) holdings are 374.974 WETH, valued at $1.43 million. Other notable assets include MVP, CONAN, BABYTRUMP, and ELON tokens. 

Trump’s Evolving Views on Cryptocurrency

Despite his historically fluctuating stance on cryptocurrencies compared to the U.S. dollar, Donald Trump has shown a significant shift towards a more supportive attitude. In a May post on Truth Social, shortly before his appearance at the Libertarian National Convention, he articulated his optimism for the cryptocurrency sector.

Trump expressed a strong belief in the potential of cryptocurrency companies and the related industries, emphasizing the need for the United States to lead in this innovative field. “I am very positive and open minded to cryptocurrency companies, and all things related from this new and burgeoning industry. Our country must be the leader in the field,” he wrote in characteristic capital letters, adding, “There is no second place.” 

This marked a notable departure from his earlier views, as voiced in a 2021 interview with Fox Business, where he had advocated for stringent regulation of cryptocurrencies, asserting, “The currency of this world should be the dollar.

And I don’t think we should have all of the Bitcoins of the world out there. I think they should regulate them very, very high.” This evolution in Trump’s perspective reflects a broader acceptance and recognition of the transformative potential that cryptocurrencies hold for the future of global finance. 

The post Trump’s Crypto Empire: Dominates TROG Memecoin with Over 50% Stake in a $32M Illiquid Portfolio appeared first on Coinfomania.