Over the past year, President Donald Trump has seen a huge boost to his personal wealth — at least on paper. A flurry of cryptocurrency ventures launched by his companies and sons helped push his net worth higher by well over $1 billion. The broader crypto market has also surged during his time in office, boosted by his administration’s friendly posture toward digital assets — and by the perception that having an executive who mainly views crypto as a way to inflate his balance sheet or attract controversial money from overseas is “good for business.”
That feedback loop is now under serious strain. Crypto prices have fallen sharply amid mounting doubts about the size of the AI boom and the overall health of the economy. Bitcoin just suffered its worst month since its chaotic 2022, plunging from $110,000 to as low as $84,000 since November 1. In total, more than $1 trillion in market value has been erased this month.
Trump hasn’t been spared by the downturn. An analysis by Bloomberg estimates that the president’s net worth has dropped by about $1 billion since peaking at $7.7 billion in September. His stake in Trump Media & Technology Group — the parent company of Truth Social — has lost roughly $800 million in the last three months alone. (A major factor: the company bought $2 billion worth of Bitcoin this spring, joining the trend of corporations loading up on the coin to inflate their reported assets.) Despite that strategy, the company is still unprofitable.
Other Trump-linked crypto plays aren’t even fully reflected in those losses. The family’s holdings of its $WLFI token have seen their notional value collapse by around $3 billion since the coin debuted in September. Bloomberg did not include the family’s $WLFI trove in its calculations because those tokens can’t currently be traded.
Trump is far from the only billionaire feeling the pain. Michael Saylor — whose company Strategy has been a major champion of corporate Bitcoin buying — is watching his own empire wobble. Strategy’s stock has shed 43 percent of its value in just a few days. On Friday, he posted what appeared to be an AI-generated image of himself styled as Ernest Shackleton, the marooned polar explorer, along with a one-word caption: “Endure.”
Yet Trump, unlike many of his crypto allies or the smaller investors now getting wiped out, retains one unique advantage: his ability to launch new coins and spin up fresh paper wealth. That may explain why Eric Trump sounded so optimistic when speaking to Bloomberg. “What a great buying opportunity,” he said in a statement. “People who buy dips and embrace volatility will be the ultimate winners.”
