The recent crash in the crypto market, which saw total valuations plummet from a record $4.3 trillion to below the $3 trillion mark, has seriously affected many investors.
Among those affected is the Trump family, whose wealth has reportedly decreased by $1 billion over the past month. according to for Bloomberg. Their current net worth is now approximately $6.7 billion, down from $7.7 billion in September.
The crypto portfolio of the Trump family is experiencing great success
The family’s crypto portfolio has suffered significant losses as a result of recent market conditions, including President Trump’s official memecoin, TRUMP, Eric Trump Bitcoin (BTC) mining company, American Bitcoin (ABTC) and Truth Social—all are related to Bitcoin.
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One of the hardest hit entities is Trump Media & Technology Group (TMTG), the parent company of Truth Social. Last week, the company’s shares fell to a record low, resulting in an estimated $800 million drop in Trump’s holdings since September.
The company has invested heavily in Bitcoin, spending roughly $2 billion on the digital asset. His holdings of approximately 11,500 BTC, purchased when Bitcoin prices hovered around $115,000, now represent a significant decline of around 25%.
In addition, World Liberty Financial (WLFI), considered the main crypto operation of the Trump family, has seen a sharp drop in value. WLFI, which was once trading at $0.26, is now down to around $0.15 at the time of writing. At its peak, the total value of the token reached around $6 billion, but it is now worth just over $4 billion.
Despite the difficulties, a spokesperson for World Liberty Financial expressed optimism, saying that “Crypto is here to stay.” The spokesperson emphasized the long-term belief in technologies that support digital assets, suggesting that these innovations could transform financial services.
Eric Trump remains an optimist
After his return to office in January, President Trump’s sons, Eric Trump and Donald Trump Jr., also began working with Hut 8 Corpa crypto company that supplies Bitcoin mining equipment.
In exchange, they secured a controlling stake in a newly formed organization called American Bitcoin Corp. Eric Trump reportedly holds about 7.5% of this new venture.
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However, shares of Nasdaq-traded Hut 8 have nearly halved, wiping over $300 million from Eric Trump’s fortune since September, with shares previously valued at $9.31.
Amid these financial challenges, Eric Trump expressed a sense of optimism, suggesting that it is recent market decline may represent an “excellent buying opportunity”. He emphasized that those who buy during dips and embrace market volatility are likely to be long-term winners in the cryptocurrency landscape.
The current market-leading cryptocurrency rallied 1.5% on Monday to $88,430, after hitting an 8-month low of $80,000 last Friday. This positions BTC almost 30% below the all-time high of $126,000 reached in October.
Featured image from DALL-E, chart from TradingView.com
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