Donald Trump’s Comments on Crypto Cause Massive Pumps in These Meme Coins

TL;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% in value, while MAGA, associated with Trump’s slogan, surged by 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 firing shots at each other. The latest confrontation was caused by the Republican nominee – Donald Trump.

Interestingly, he touched upon cryptocurrencies, claiming that his opponent – Joe Biden – and the people from his cabinet are against the industry. On the contrary, Trump assured he is the right choice for those in favor of the asset class:

“I’m fine with it. I want to make sure it’s good and solid and everything else. But I’m good with it. And if you like crypto in any form (and it comes in many different forms), if you are in favor of crypto, you better vote for Trump.”

The billionaire was also asked about his opinion on a meme coin, BODEN, whose market capitalization reached $250 million and depicts president Joe Biden. Trump said “that’s a lot of money for a coin,” adding he does not fancy such investment.

Despite his negative opinion, BODEN’s price soared substantially in the past few hours. It spiked by 40%, climbing to as high as $0.42 before retracing to the current level of $0.35 (per CoinGecko’s data).

The meme coin with a ticker MAGA (standing for the political slogan popularized by Trump – “Make America Great Again”) has exploded even more impressively. Its price briefly crossed the $7 mark, representing a 60% surge.

Trump’s U-Turn

It is worth mentioning that Donald Trump has not been that supportive of the cryptocurrency sector back in the day. A few years ago, he called Bitcoin (BTC) “a scam,” adding that he didn’t like it because “it’s another currency competing against the dollar.” He started softening his tone earlier this year, stating he can “live” with the digital asset:

“You probably have to do some regulation, as you know. But many people are embracing it, and more and more, I’m seeing people wanting to pay “bitcoin,” and you’re seeing something that’s interesting. So, I can live with it one way or the other. 

Trump also jumped on the NFT bandwagon, releasing a collection of digital art depicting him in a superhero style. As CryptoPotato reported, the value of the non-fungible tokens jumped significantly following the American’s arrest in April last year and his interview with Tucker Carlson a few months later.