Donald Trump Sells 1,075 ETH of Ethereum (ETH) Assets

The crypto world was recently shocked by the big step taken by Donald Trump, the former President of the United States who sold 1,075 ETH or $2.4 million USD. He is known for his courage and decisiveness in various fields, including in the world of crypto assets. This time, Trump made a big move by selling more than half of his Ethereum (ETH) holdings. This information was revealed by Arkham Intelligence, a crypto analysis agency that follows asset market developments on the X platform : 

Background on Trump Acquiring ETH

Donald Trump, who is not only famous as a former US President but also as an important figure in the business world, has taken strategic steps in investing in the crypto world. With the NFT collections he has launched (the last time in December 2023, the second in April, and the first in December 2022), Trump has reportedly accumulated significant ETH assets. According to Citizens for Responsibility and Ethics, Trump has ETH assets estimated to be worth around $5 million. This NFT collection depicting his face has also received many requests from his fans.

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Details of Trump's ETH Sale

The publication The Block recently highlighted data from Arkham tweets showing the recent movements of Donald Trump's crypto wallet. From available information, the former US President is known to have sold more than half of his Ethereum holdings. Arkham Intelligence estimates that Trump's crypto treasure is at $4 million.

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Analisis Pasar: Grafik ETH/IDR oleh BITTIME

At the time of publication of this article, the 1,075 ETH sold by Trump was worth approximately $2.4 million  However, a recent check on Bittime shows that the value of ETH against the rupiah has increased by 5% in the last 24 hours. At the current price per unit of 37,240.00 iDR or $2,397.12, the total ETH sent by Trump to Coinbase is worth approximately $2.57 million. This shows that with the news of the ETH sale, the price of ETH has not decreased or even increased. 

How Much Ether Does Trump Have?

There is a question that arises among crypto observers and investors: How much ether does Trump actually own? There are two main sources of information in this regard, namely Arkham Intelligence and Citizens for Responsibility and Ethics. Arkham claimed that the information was obtained from Trump's financial report this December and stated that the ether had been in Trump's crypto wallet since August. Meanwhile, Citizens for Responsibility and Ethics in Washington confirmed that Trump, as manager, president, and secretary of CIC Digital LLC, owns $4.9 million worth of Ethereum.

The role of CIC Digital LLC and NFT INT LLC

CIC Digital LLC, which is known to have ties to The Trump Organization and Donald J. Trump himself, could be the manager of NFT INT LLC. NFT INT LLC is the company handling the promotion of digital Trump collectible cards. According to Trump's official website:

"NFT INT LLC uses the name, likeness and image of Donald J. Trump under a license paid for by CIC Digital LLC, a license which may be terminated or revoked in accordance with its terms."

Trump's Latest NFT Collection

Trump's latest NFT collection, "Trump Digital Trading Cards," which was released at the beginning of this month, has recorded significant trading volume. Between December 17th and 24th, the collection generated trading volume of $119,100. This shows that there is great interest from the public in these collections.

Market Implications and Further Analysis

Trump's massive sale of ETH has several important implications for the crypto market in general. First, this shows that big world figures still take investment in crypto seriously, especially Ethereum which is one of the main crypto assets. Second, Trump's steps can also be an indicator for other investors in making their investment decisions in the future. It is important to note that the crypto market is very dynamic and influenced by various factors, including the investment decisions of important figures like Trump.

Conclusion and Future Prospects

In a broader context, Trump's sale of ETH not only has an impact on the value of the crypto asset, but also provides insight into the current dynamics of the crypto market. Although the crypto market is known for its volatility, this incident shows that there is still strong confidence and interest from investors in crypto assets, especially Ethereum. With the development of blockchain technology and the increasing adoption of crypto assets in various sectors, the future prospects for Ethereum and other cryptocurrencies appear to continue to grow.