Trump’s cryptocurrency explodes and his stake is valued at US$35 billion

BySimon Rousseau Posted on
Donald Trump tem sua própria criptomoeda

At this price, the 800 million tokens that will be allocated to Trump have an estimated value of 34 billion dollars (R$206 billion), which would place the fortune of the Republican, who will be sworn in as president on Monday, among the 20 largest in the United States.

Currently, without considering this new unexpected gain, the Forbes magazine website estimates Trump’s wealth at 6.7 billion dollars (R$40.6 billion).

With the exception of “stablecoins”, digital currencies backed by traditional currencies such as the dollar, cryptocurrencies tend to have extremely volatile valuations, and it is not uncommon for their prices to plummet, especially in the case of “meme coins”.

Trump, for example, reached $75 before retreating.

The future head of state presented this new digital currency as a “meme coin”, that is, a cryptocurrency designed to capitalize on popular enthusiasm around a personality, movement or viral phenomenon on the internet.

This type of currency lacks economic or transactional utility and is generally identified as a purely speculative asset.

Read more:  Stormy Daniels case: judge blocks Trump's attempt to overturn conviction
Simon Rousseau
Simon Rousseau

Hello, I'm Simon, a 39-year-old cinema enthusiast. With a passion for storytelling through film, I explore various genres and cultures within the cinematic universe. Join me on my journey as I share insights, reviews, and the magic of movies!