PK Press Club — United States President-elect Donald Trump announced the launch of his coin, $TRUMP, in an article in Truth Social on Friday evening, whose market capitalization has quickly soared into the billions of dollars.
“My NEW official Trump meme is HERE! It’s time to celebrate everything we stand for: WINNING!” Trump wrote in a post on his social media platform Truth Social.
The move comes ahead of Trump’s inauguration on Monday, which is widely expected to usher in a new era of digital asset adoption.
Trump, who previously called it a “scam,” promised that America would be “the crypto capital of the planet” once he took office.
was trading just above $71 as of 7:40 a.m. ET (12:40 GMT), reaching a market cap of $14.2 billion, according to CoinMarketCap.
Major crypto exchanges including Coinbase (NASDAQ:) and Binance have announced plans to list the memecoin token.
Some 200 million digital tokens have been issued and another 800 million will be issued over the next three years, the coin’s website says.