US President Donald Trump’s cryptocurrency, $Trump, has seen its price jump by over 70% after he announced exclusive dinner invitations for its top holders. The event, scheduled for May 22, will be held at the Trump National Golf Club in Washington DC and features a private gala dinner for 220 of the coin’s largest investors.
The announcement was met with criticism from some in the crypto industry, who described it as a “stunt.” However, the news appears to have boosted investor confidence, sending the $Trump token soaring. The cryptocurrency is currently valued at around $2.5 billion and has not yet reached its record high of over $74.
This is not the first crypto-related venture launched by Trump or his associates. In January, First Lady Melania Trump also launched her own cryptocurrency. Trump has signed executive orders to create a presidential working group for crypto laws and regulations and a Strategic Bitcoin Reserve. His media company plans to launch exchange-traded funds (ETFs) featuring digital assets with a “Made in America” focus.
As the US president continues to explore the world of cryptocurrency, it remains to be seen how this move will impact the market and its investors.
Source: https://www.bbc.com/news/articles/ce8g2kpzx0go