Newly elected US President Donald Trump launched his own cryptocurrency, the $TRUMP memcoin.
On the first day, 200 million coins will be available to users, and within three years the total supply will increase to one billion. This was reported on the cryptocurrency website and in Trump’s social media post X.
It’s time to celebrate everything we stand for: winning. Join my community and get your $TRUMP right now,” the future American president wrote.
Meanwhile, CoinDesk reported that memcoin prices rose from a few cents to $14 in less than six hours. This comes amid general confusion over whether the token was actually backed by Trump, or whether it was a possible hack of Trump’s account with a fake token.
Recall that US President-elect Donald Trump promised to make the United States the “crypto capital of the planet” and accumulate a national reserve of bitcoins. Trump said he plans to create a strategic bitcoin reserve in the United States, similar to the strategic oil reserve. After this statement, the price of the Bitcoin cryptocurrency updated its record level and cost more than 106 thousand dollars.
Source: Racurs
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.