Donald Trump is raising buying fever with the launch of his own cryptocurrency, already valued at more than $35 billion. Can it make you rich?
On January 18, Donald Trump shook the crypto community by launching his own “meme coin”. This type of cryptocurrency seeks to capitalize on popular enthusiasm around a personality, a movement or a viral phenomenon. The billionaire therefore seized the opportunity by naming this new digital asset “Trump Meme”.
The announcement took place during the Crypto Ball, a gala for investors in digital currencies given in honor of the president-elect. In a few hours, the launch of this cryptocurrency bearing his image caused a significant purchasing fever. Its global valuation skyrocketed, reaching $35 billion this Sunday. A welcome monetary gain for the billionaire initially opposed to cryptocurrencies. During his recent presidential campaign, he made a radical turnaround and has continued to praise the advantages of this electronic currency ever since.
This is why, with the meteoric start of the “Trump Meme”, the Republican further confirms this change of direction. Thanks to this digital asset, which represents him with his fist raised with the slogans “Fight, fight, fight” – pronounced in July 2024 after his assassination attempt in Pennsylvania – the billionaire is already monetizing his name and his fortune to grow his treasury. A “predatory” act for the New York Times which considers this initiative “the latest in a series of actions taken by Donald Trump that blur the line between his role in government and his family’s ongoing efforts to profit from his power and global fame.”
A reserve of bitcoins in 2025?
And for good reason: the euphoria around cryptocurrencies in the United States is fueled by the arrival at the head of the White House of this actor favorable to cryptocurrencies. This is evidenced by Donald Trump’s promise to elevate bitcoin to the rank of political priority. But that’s not all… “He also said that he would make a strategic reserve in bitcoins”, notes economist Quentin Demé at RFI. “It’s also a pretty strong statement, since saying that the first country in terms of GDP, the United States, which would make a strategic reserve in bitcoin, would change a lot of things on the market” .
Despite everything, the majority of memecoins “disappear as quickly as they appeared” according to Radio France. There are still some rare exceptions, such as “Dogecoin”. However, these digital assets often have extremely volatile valuations and it is not uncommon for their prices to collapse. The “Trump meme” also rose to 75 dollars before falling to 45 dollars on Sunday evening. At this price, the 800 million chips to fall into the president-elect’s purse would still be worth $34 billion. The price of its currency is still fluctuating at the moment even at a very fast pace.
This fortune would take him straight to the doors of the twenty richest Americans in the United States with assets estimated at 6.7 billion dollars by Forbes magazine. However, as bitcoin is still not recognized as legal tender in France, investments in this asset remain “risky”, according to the governor of the Bank of France, François Villeroy de Galhau. So be careful if you think you’re getting rich with Donald Trump, betting on his crypto currency could be a coup for your portfolio but also turn into a flop with the wind.