WASHINGTON — Donald Trump has launched his own cryptocurrency ahead of Inauguration Day. The president-elect took to his Truth Social platform to get the word out.
“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,” Trump said on the platform Friday night.
Known as a meme coin, the new cryptocurrency has shot up in value more than 500% by Saturday, according to cryptocurrency price tracking website CoinGecko.
The coin’s official website said 200 million meme coins were issued. The company who managed the launch, Fight Fight Fight, LLC, said an additional 800 million would be added over the next three years.
Trump’s stance on cryptocurrency has evolved significantly over time. In a 2021 interview with Fox Business he said bitcoin “seemed like a scam.” More recently, his views have shifted.
Trump has vowed on the campaign trail to take steps in early in presidency to make the U.S. into the “crypto capital” of the world. His promises including creating a U.S. crypto stockpile, enacting industry-friendly regulation and even appointing a crypto “czar” for his administration. The crypto industry is celebrating Trump’s inauguration with a first-ever “Crypto Ball.”
The price of bitcoin topped $100,000 again early Friday as a pumped up cryptocurrency industry expects early action by Trump when he’s sworn in as president next week.
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