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Donald Trump’s Comments on Crypto Cause Huge Rises in These Meme Coins
DR
- Donald Trump now endorses cryptocurrencies, reversing his previous skepticism and promoting himself as the pro-crypto candidate, in contrast to Joe Biden, who he claims opposes the industry.
- The meme coin BODEN, linked to Joe Biden, rose 40%, while MAGA, associated with Trump’s slogan, rose 60%.
BODEN and MAGA Flash Green
The elections for America’s next president are just a few months away and the main candidates have already started taking shots at each other. The last confrontation was caused by the Republican candidate – Donald Trump.
Interestingly, he addressed cryptocurrencies, claiming that his opponent – Joe Biden – and people in his cabinet are against the industry. On the contrary, Trump trusting it is the right choice for those who are in favor of the asset class:
“I’m fine with that. I want to make sure it’s good and solid and everything. But I’m okay with that. And if you like crypto in any form (and it comes in many different forms), if you are for crypto, you better vote for Trump.”
The billionaire was also asked about his opinion on a meme coin, BODEN, whose market capitalization has reached $250 million and depicts President Joe Biden. Trump said “that’s a lot of money for a coin,” adding that he doesn’t like such an investment.
Despite your negative opinion, the price of BODEN has risen substantially in the last few hours. It soared 40%, rising to $0.42 before returning to the current level of $0.35 (according to data from CoinGecko).
BODEN Price, Source: CoinGecko
The meme coin with the ticker MAGA (which represents the political slogan popularized by Trump – “Make America Great Again”) exploded even more impressively. Its price briefly surpassed the $7 mark, representing a 60% increase.
Trump’s U-turn
It is worth mentioning that Donald Trump has not been so supportive of the cryptocurrency sector at that time. A few years ago, he called Bitcoin (BTC) “a scam”, adding that he didn’t like it because “it’s another currency competing with the dollar”. He began to soften his tone earlier this year, stating he can “live” with the digital asset:
“You will probably have to do some regulation, as you know. But a lot of people are adopting it and more and more I see people wanting to pay “bitcoin” and you are seeing something that is interesting. So I can live with it one way or another.
Trump has also joined the NFT movement, releasing a digital art collection depicting him in superhero style. Like CryptoPotato reportedthe value of non-fungible tokens increased significantly following the American’s arrest in April last year and his interview with Tucker Carlson a few months later.