In an intriguing twist of fate, former President Donald Trump seems to have found a rather lucrative side effect from his recent military maneuvers in Venezuela. The nighttime raid that led to the capture of Venezuelan dictator Nicolas Maduro not only bolstered Trump’s reputation among anti-communist supporters in South Florida, but it apparently also gave his personal wealth a nice little bump. In the world of finance, it appears that not all heroes wear capes; some just happen to own cryptocurrencies.
Interestingly enough, it wasn’t oil—which Trump famously has a fixation with—that provided this financial windfall. The oil markets barely reacted to the dramatic events in Caracas. Instead, Trump’s financial heart is beating more in time with the volatile rhythms of the cryptocurrency market. Since the raid, estimates suggest his crypto-related assets have spiked around $140 million. Yes, you read that right. That’s a lot of digital dough for a guy who used to make his money through real estate.
A primary driver of this newfound wealth seems to be the shares Trump holds in his company, Trump Media and Technology Group (TMTG). Following the raiding of Maduro, TMTG’s stock opened about 4% higher, translating to a remarkable increase in Trump’s wealth, amounting to approximately $63 million. TMTG isn’t just any old tech company; it controls the popular social media platform Truth Social and is working on innovative projects like a merger with a fusion energy firm. Oh, and it’s also dabbling in Bitcoin. With Bitcoin prices soaring following the news of Maduro’s arrest, TMTG rode the wave of excitement right along with it.
In addition to the spike in his traditional holdings, Trump’s crypto assets are also enjoying a delightful upward trend. World Liberty Financial’s tokens, for instance, surged about 20% in value overnight after news of Maduro’s capture broke. The Trump family’s company, DT Marks Defi LLC, owns a massive 22.5 billion tokens, and if Trump still holds his 70% stake, he stands to gain about $34 million from these assets alone. Who knew that the world of cryptocurrencies could lead to such unexpected fortunes?
The cherry on top of the crypto cake is Trump’s own memecoin, fittingly named Dollar Sign Trump. This whimsical venture also saw a spike in value alongside news of military activities in Venezuela, jumping by approximately 9%. Despite considerations like the potential for price collapse if he decided to cash in, Trump’s memecoin investments are estimated to be up around $45 million. Seems like there’s no bad press when you’ve got digital coins to back you up!
Since entering the world of politics, Trump has transitioned from a traditional real estate tycoon to a savvy crypto mogul, with Forbes estimating his net worth to be around $7.3 billion as of September. Interestingly, about two-thirds of that impressive increase is tied to his flourishing crypto enterprises. It turns out that launching a military operation can be quite the effective marketing strategy when it comes to selling digital hype. In today’s unpredictable economic climate, it appears that anything can possibly lead to a financial bonanza, especially for someone as forward-thinking as Trump.
So, in summary, one might say that Trump’s military escapades not only got the attention of anti-communists but also managed to give his wallet a noteworthy boost. Fancy that—making dollars in a world filled with disputes!
