President-elect Donald Trump launched his $Trump Coin cryptocurrency days before taking office.
The 47th President of the United States posted this message on X and the Truth Social app:
“It’s time to celebrate everything we stand for: WINNING! Join my very special Trump Community. GET YOUR $TRUMP NOW!”
What do we know about Trump Coin?
My NEW Official Trump Meme is HERE! It’s time to celebrate everything we stand for: WINNING! Join my very special Trump Community. GET YOUR $TRUMP NOW. Go to https://t.co/GX3ZxT5xyq — Have Fun! pic.twitter.com/flIKYyfBrC
— Donald J. Trump (@realDonaldTrump) January 18, 2025
The BBC reports that CIC Digital LLC coordinated the launch of this presidential token.
The company is a Trump Organization affiliate, which previously sold Trump-branded footwear and fragrances.
CIC Digital LLC and Fight Fight Fight LLC own 80% of the tokens, but it is unclear how much Trump can earn from this venture.
Cryptocurrency price tracker CoinGecko shows the $TRUMP price skyrocketed by 600%, which was $27.40 at the time of writing.
Moreover, Trump Coins follow a three-year unlocking schedule, preventing holders from dumping their holdings simultaneously.
The BBC describes them as meme coins, which “are used to build popularity for a viral internet trend or movement.”
However, they “lack intrinsic value and are extremely volatile investments.”
Regardless, the official website emphasizes the Trump Coin’s meme status by saying:
“This Trump Meme celebrates a leader who doesn’t back down, no matter the odds.”
The Trump Coin highlights the President-Elect’s influence and his upcoming administration’s pro-crypto stance.
Before the digital token announcement, he and his sons opened a crypto venture named World Liberty Financial.
In August 2024, he promised at a Bitcoin conference in Nashville that he would make America “the crypto capital of the planet.”
As a result, many speculate that he will launch the US Strategic Bitcoin Reserve, which is similar to a country’s gold reserve.
See how a Bitcoin reserve might work here.