Bitcoin’s Fall Is Denting the Trumps’ Wealth
November 14, 2025
With the digital assets market faltering, so is the wealth that President Donald Trump’s family has won from cryptocurrencies.
Crypto-tied stocks and tokens owned by the president and his family have plummeted in the past month as Bitcoin dropped from its Oct. 5 high of $126,272. The Trump family holdings include Trump Media & Technology Group (DJT)—it owns Bitcoin and other tokens and says it is working on crypto exchange-traded funds—as well as blockchain firm World Liberty Financial and Bitcoin miner American Bitcoin.
The World Liberty Financial token, as well as the stocks of American Bitcoin and DJT, have all lost about 30% since Bitcoin’s October high.
Trump and his appointees have worked hard to promote the crypto industry since he took office. Early in the administration, Trump said he would create a Bitcoin “strategic reserve” with crypto seized by the government in law enforcement actions, and that the administration would explore other ways to accumulate Bitcoin.
The Securities and Exchange Commission under Trump appointees also dropped lawsuits against Coinbase Global, Binance, and myriad other crypto firms alleging that they broke securities laws, which the firms denied. SEC Chairman Paul Atkins at a conference this week said the agency would considering establishing a “token taxonomy” clarifying when crypto tokens are under his agency’s purview.
All of the moves have big implications for the Trump family’s investments. American Bitcoin, whose shareholders include Eric and Donald Trump Jr., has about doubled to $5 since early May, when its predecessor company announced it had entered an agreement to merge with American Bitcoin. As of Friday afternoon, American Bitcoin was up 1.9% in volatile trading, after an earnings report showed its revenue had more than quintupled in the third quarter from the same quarter a year ago.
Trump’s latest government financial disclosure form, dated mid-June, showed the president indirectly holds nearly 115 million shares of DJT, which at Friday’s price would be worth about $1.3 billion, down from nearly $2 billion in early October. The president’s shares in DJT are held in a revocable trust in the name of his son Don Jr., who is on Trump Media’s board.
World Liberty says on its website that Trump and his family own about 22.5 billion World Liberty Financial tokens, which would be worth about $3.4 billion at Friday’s price, down from $4.5 billion. Eric Trump owns 7.5% of American Bitcoin, according to a September disclosure, a stake that is now worth about $340 million, down from about $480 million.
The Trump family wealth includes opaque private holdings that are difficult for outsiders to value, but likely stands in the single-digit billions.
“Don’t believe everything you read online,” Eric Trump said recently when asked if the Trump family had more wealth tied up in crypto than real estate.
The White House referred a request for comment to the Trump Organization, which didn’t immediately respond. Trump Media and American Bitcoin didn’t respond to a request for comment.
“Over the past ten years bitcoin has been, by far, the best performing asset class in the world. World Liberty Financial was founded on the premise that blockchain is simply superior technology and that the future of finance will be on-chain,” a World Liberty spokesman said in a statement.
The White House has said there are no conflicts between the family’s holdings and the president’s policy decisions. Press secretary Karoline Leavitt has told media outlets, “Neither the President nor his family have ever engaged, or will ever engage, in conflicts of interest.”
Write to Joe Light at joe.light@barrons.com
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