Donald Trump’s crypto portfolio is about to get a big bump. It means the sale restrictions placed on his new meme coin, $Trump, have been removed. The possible “unlock” of these coins is on track to increase his remarkable $6.4 billion net worth by at least $93 million. In doing so, this move will cement cryptocurrency as one of the most profitable recent Trump family ventures.
Beginning this Thursday, Donald Trump-affiliated actors will acquire the power to issue 90 million $Trump tokens. At $10.30, the price on Wednesday, these tokens sport a market capitalization of almost $930 million. 200 million coins on initial launch In January, the first launch of the meme coin made 200 million coins available. The upcoming unlock will boost the coins circulating supply by 45%.
Initially, 800 million $Trump meme coins were locked and staked by organizations connected to Trump. After this week’s unlock, there are still another 510 million $Trump tokens set to be released over the next two years. To add insult to injury, an additional 200 million $Trump coins will start flooding the market in January. The mean total supply cap of $Trump meme coins currently outstanding is 1 billion in under 3 years.
Cryptocurrency has surfaced as one of the other big new moneymakers for the Trump family. Since Donald Trump’s unexpected election victory in November, it’s increased their wealth by an additional $620 million. Donald Trump has personally profited at least $150 million by trading the $Trump meme coin so far through mid-June.
Even more fishy, the current largest holder of the $Trump meme coin is none other than current crypto bad boy, Justin Sun. As a result, the price of the meme coin increased over 10% last week. This increase occurred on the heels of an announcement that Justin Sun would buy $100 million of the coin himself.
Donald Trump Jr. and Eric Trump, co-managers of the Trump Organization, are shareholders in the crypto miner American Bitcoin. Gryphon Digital Mining is now poised to purchase the fledgling company, American Bitcoin. On average, this deal would value American Bitcoin at more than $4.5 billion!
