President Trump speaks at a bitcoin conference in Nashville in 2024.
Photo by Jon Cherry/Getty Images
The president’s publicly traded company made headlines last summer when it announced plans to invest in bitcoin. Hardly anyone knew that the president himself was also building a stash of the cryptocurrency.
That revelation emerged Tuesday, when Trump released an ethics filing that cataloged his holdings. He disclosed two assets worth more than $50 million and identified each, awkwardly, as a “cryptocurrency wallet virtual bitcoin key (held in cold wallet).” In simpler terms, that appears to just mean a hoard of bitcoin.
Tack those piles onto the president’s indirect share of Trump Media’s bitcoin investments, and his total exposure to the cryptocurrency amounts to more than $500 million, Forbes estimates.
The situation overflows with potential conflicts of interest. Bitcoin jumped 82% from Election Day to October 2025 as Trump softened the government’s stance toward digital assets. Investor enthusiasm became so extreme that it may have led to a bubble—bitcoin’s price has since plummeted 53%.
Asked about all this, a spokesperson for the White House denied that the president engaged in conflicts of interest, but then pointed to a host of policies that benefitted his own holdings: “President Trump proudly made the United States the crypto capital of the world through executive actions, supporting legislation like the GENIUS Act, and other commonsense policies to drive innovation and economic opportunity for all Americans,” said deputy press secretary Anna Kelly.
The genesis of Trump’s bitcoin appears to be two crypto offerings that he sold to the public. His World Liberty Financial generated nearly $800 million in proceeds, much of it coming between the election and inauguration. One of Trump’s bitcoin wallets is held by the same entity through which he maintains his stake in World Liberty.
The company that launched Trump’s memecoin, CIC Digital LLC, collected more than $635 million of royalties. It holds the other bitcoin wallet identified on Trump’s disclosure.
The first family has openly admired others willing to amass bitcoin. Billionaire Michael Saylor developed the playbook at his company, Strategy, which built a stockpile, exploded in value and spawned more than 200 copycats. “Every serious company has either started putting bitcoin on the balance sheet,” Eric Trump marveled last September, “or is in the process of putting bitcoin on the balance sheet.”
That included the Trump Organization.