Donald Trump, the newly elected President of the United States, experienced a meteoric rise in his wealth over the weekend, thanks to his own cryptocurrency, $TRUMP. Launched just last Friday, the cryptocurrency boosted his fortune.
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The $TRUMP cryptocurrency gained immense popularity in just two days, surpassing even the usual standards of the crypto world, which currently includes over ten thousand different digital currencies. The key to its success lies in the fact that it is backed by the incoming U.S. president himself.
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On Sunday afternoon, $TRUMP hit an all-time high, trading at over $75 per unit. For comparison, Bitcoin—the oldest and most widely recognized cryptocurrency—took more than four years to reach the same value. However, the rapid rise in $TRUMP’s value is highly speculative, and its long-term sustainability remains uncertain.
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To date, Trump has released 200 million units of $TRUMP out of a planned total of one billion. The remaining 800 million units are to be distributed gradually over the next three years, starting this April. Including these unreleased units, the cryptocurrency’s market capitalization exceeds $75 billion, with 80% of this value controlled by Trump through his companies CIC Digital and Fight Fight Fight.
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Trump’s total fortune now comprises approximately $60.1 billion in $TRUMP cryptocurrency, $4.6 billion in shares of his company Trump Media & Technology—which operates the social network Truth Social—and an additional $2.6 billion in real estate. With a total wealth of $67.3 billion, he has become one of the 25 richest people in the world.
Whether this lightning-fast success of $TRUMP will endure remains to be seen.
