Donald Trump’s cryptocurrency surged over 70% after the U.S. president announced special dinners for his top investors. The $Trump token is still below its initial record high but has garnered significant interest. Critics have dismissed the move as a gimmick, yet it signals Trump’s ongoing engagement with the crypto world.
In an interesting twist in the world of cryptocurrencies, Donald Trump’s crypto coin has seen a significant price jump—more than 70%—after the U.S. president offered a special dinner for its top investors. The $Trump coin, a sort of meme token, announced that the 220 biggest holders will be invited to a private gala dinner on May 22, a move touted as the “most EXCLUSIVE INVITATION in the world.”
The announcement has certainly stirred excitement in the crypto community, with the price of the coin spiking according to Coinbase. Even so, it’s worth noting that the token is still well below its record high of over $74, which it hit shortly after its January launch. There’s quite a buzz as fans speculate on what this invitation could mean for the future of the coin.
This isn’t Trump’s first venture into the crypto space; he’s previously stated that he considers himself the “crypto president”. Besides the upcoming gala at Trump National Golf Club in Washington D.C., the biggest 25 holders are in for an “ultra-exclusive private VIP reception” with Trump himself. Seems he’s pulling out all the stops for these investors.
Currently, the $Trump tokens in circulation are valued around $2.5 billion. These tokens made their debut just days before Trump’s inauguration earlier this year. While some folks in the crypto industry view this as an intriguing opportunity, critics have labeled it nothing more than “a stunt” to create buzz.
And it’s not just Trump getting in on the crypto action. First Lady Melania Trump also launched her own cryptocurrency on the eve of the inauguration. With meme coins often treated as speculative bets or tokens of fandom, the timing of these launches seems fishy to some. Could be just a trend, or something more?
Upon his return to the White House, Trump signed an executive order to form a presidential group tasked with developing new regulations around cryptocurrency. Also, he plans on creating a Strategic Bitcoin Reserve and a Digital Asset Stockpile that would store forfeited coins from legal proceedings. It’s a bold move into the digital currency realm, but its real implications remain to be seen.
In summary, Donald Trump’s cryptocurrency has experienced a marked increase in value following the announcement of exclusive events for top investors. With strong ties to his branding and a notable gala planned, interest from the crypto community is at a high. Critics raise eyebrows at these moves, but it’s clear that Trump is firmly positioning himself in the evolving world of digital currency.
Original Source: www.bbc.com
