Trump’s crypto holdings reflect his strong belief in the sector; at the time of writing, the former president’s polymarket odds were over 60% likely to win.
Donald Trump has been pretty vocal about his support for digital currencies lately, but how much of a supporter does he really support them?
As it turns out, the former president is very cooperative, according to Arkham Intelligence’s latest dataset. In fact, on October 18, his cryptocurrency holdings were valued at more than $7.89 million.
Source: Arkham Intelligence
Interestingly, more than 65% of his current crypto portfolio consists of meme coins, with President Trump-inspired tokens making up the bulk of his assets.
His largest holdings include MAGA (TRUMP) tokens worth $3.15 million.
Is Trump interested in cryptocurrencies?
Although his portfolio reflected confidence, the Republican candidate wasn’t always a fan of cryptocurrencies. However, his position has since changed and his electoral policies are now seen as highly favorable to the crypto sector.
In May, Trump became the first major party presidential candidate to accept cryptocurrency donations. Additionally, a political action committee (PAC) supporting former US President Donald Trump’s presidential campaign collected $7.5 million in crypto donations.
According to an Oct. 15 filing with the Federal Election Commission, the PAC received donations in BTC, Ether, XRP, and stablecoins such as Tether and USD coin between July and September.
How will cryptocurrencies affect elections?
The Digital Chamber’s National Cryptocurrency Voting Block Survey found that one in seven potential voters, or approximately 16% (26 million people), believe that cryptocurrencies are an important issue. It turned out that there was. They are more likely to support pro-crypto candidates.
Additionally, approximately 40% of Black voters said cryptocurrencies were an important factor in determining their 2024 election choice.
Supporters of Trump and Vice President Kamala Harris believe each candidate is more supportive of cryptocurrencies than their opponent.
The study also suggested that supporting the cryptocurrency industry should be at least a moderate priority for the president and the U.S. Congress.
Interestingly, those who are most familiar with cryptocurrencies have a more positive view. Americans who are more knowledgeable about cryptocurrencies also tend to trust their government more.
Trump vs. Harris: Who’s in the Lead?
Meanwhile, his pro-cryptocurrency stance is certainly helping Trump’s prospects in this election. With 18 days left, the former president leads by about 22 points.
According to Polymarket’s 2024 election forecast, Trump has a 60.7% chance of winning, followed by Harris with a 38.9% chance.
Only time will tell how the future of the US and cryptocurrencies will unfold as the clock ticks.
Source: Polymarket
Next: Base surpasses Arbitrum with over 6 million transactions per day — what’s next?
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