Trump launches his own digital currency and its total value increases by billions of dollars
US President-elect Donald Trump announced the launch of his own cryptocurrency on Friday night, sparking a buying spree that saw its total value surge to several billion dollars within hours.
In a message posted on his Truth Social and on X platforms, Trump introduced this new digital currency as a “meme coin,” a cryptocurrency based on popular enthusiasm around a person, movement, or phenomenon that is popular on the Internet.
A meme coin has no economic or transactional utility and is often defined as a purely speculative asset.
The project’s official website explained that this currency celebrates a leader who never backs down, no matter the circumstances, in reference to the assassination attempt on Trump during the US election campaign last July that led to his election as president.
The value of this digital currency quickly rose, with the total capitalization of the units in circulation reaching about $6 billion.
The project’s official website indicates that 200 million tokens (units) of this currency have been launched in the market, while the company “Fight Fight Fight Fight” plans to add 800 million more within three years.
The creators of this new digital asset, including Donald Trump, control all the units that have not yet been marketed, and are theoretically worth about $24 billion at the current price.
