Washington, January 19, 2025 – President-elect Donald Trump has taken the cryptocurrency world by storm with the launch of his own digital currency, $TRUMP, on Friday. The announcement caused a frenzy among crypto enthusiasts, sending its market capitalization soaring to an estimated $6 billion within hours.
Trump unveiled the cryptocurrency on his Truth Social platform and X, posting a bold statement: “My NEW Official Trump Meme is HERE! It’s time to celebrate everything we stand for: WINNING!” The $TRUMP coin is positioned as a meme coin, a type of cryptocurrency designed to capitalize on internet culture, personalities, or viral trends.
“Meme coins often have no intrinsic value, but $TRUMP celebrates a leader who stands firm, no matter the odds,” the coin’s official site proclaims. This unique branding appears to have captured the imagination of Trump’s supporters and speculative traders alike.
Despite initial skepticism from the crypto community about the legitimacy of $TRUMP, the fact that the announcement was made through Trump’s official social media accounts helped allay fears of a scam. Additionally, Trump’s association with CIC Digital LLC, the company behind the coin, lent credibility to the project. Trump had previously collaborated with CIC Digital LLC to sell non-fungible tokens (NFTs), further solidifying the connection.
The market responded rapidly. By Saturday morning, $TRUMP had reached a market capitalization of nearly $6 billion, according to CoinMarketCap.com. The coin’s official site revealed that an initial batch of 200 million coins was issued, with plans to release an additional 800 million over the next three years. However, neither Trump nor Fight Fight Fight LLC, the company managing the launch, disclosed how much revenue was generated from the initial sale.
Trump’s embrace of cryptocurrency marks a significant shift. Once a skeptic, he has now emerged as a champion of digital assets. Alongside his sons Donald Jr. and Eric, Trump previously founded World Liberty Financial, a venture promoting crypto investments. Last summer, Trump declared his intention to make the United States “the crypto capital of the planet” during a Bitcoin conference in Nashville.
The launch of $TRUMP is part of Trump’s broader merchandise strategy, which has included perfumes, watches, and commemorative silver coins. Whether $TRUMP sustains its initial hype or becomes another fleeting crypto trend remains to be seen, but Trump’s ability to energize markets is once again undeniable.