NEW YORK: US President Donald Trump will host the biggest holders of a cryptocurrency he launched earlier this year for dinner, the company overseeing the currency said Wednesday, sending its price surging.
"Get $TRUMP. Have Dinner with President TRUMP!" suggests a promotional message posted on the official website of the cryptocurrency named after the US president.
The $TRUMP memecoin was launched at the end of January, a few hours before the Republican billionaire's inauguration. Some 200 million tokens (units) of this currency have been put on the market since then, with the start-up behind the operation, Fight Fight Fight LLC announcing plans to add a further 800 million tokens within three years.
The creators of this new digital asset, who include Donald Trump, control all the private tokens, which have a theoretical value of more than $10 billion at current prices.
Under the plans announced on the website, Fight Fight Fight will identify the 220 biggest $Trump holders, on average, between April 23 and May 12, and invite them to dinner on May 22 at the Trump family-owned Trump National Golf Club in the Washington suburbs of Potomac Falls, Virginia.
Among them, the 25 investors holding the most $TRUMP memecoins will be invited to a small reception with Trump beforehand, and will later be given a private tour of the White House organized by the company.
The official website specifies that the invitation will not be open to nationals of countries placed under surveillance by the US State Department, including China, Russia and Iran.
The price of the digital currency jumped almost 60 percent following the announcement, helping reverse a recent slump that had left the memecoin down almost 90 percent from its January 19 peak.