Two days before his investiture, Donald Trump launched his own cryptocurrency: the ‘Trumpcoin’. The official announcement was made at 9:00 p.m. (US time), but an unknown user had privileged access to information 12 hours before. With that advantage, he invested one million dollars when the currency was worth 17 cents. In less than a day, its price shot 43,000%, reaching almost $ 75.
That user took advantage of the perfect moment: he bought before anyone else and sold in mass when the cryptocurrency was at its highest point, generating Profit of more than 109 million dollars. Its mass sale caused the immediate fall of value, leaving thousands of small investors trapped in the loss.
“Those who are in the environment of these people who launch cryptocurrencies They are the ones who generate the waves, others can only try to surf“explains Massimo Cermelli, professor of economy at Deusto Business School.
According to the ‘New York Times’, more than 800,000 Americans invested in the ‘Trumpcoin’, accumulating losses that exceed 2,000 million dollars. Meanwhile, the Trump family continues to bet on the deregulation of the crypto market. “The United States will be the world capital of the crypto,” Trump promised.
The big question is still open: Who was the investor who obtained the information before the rest? A simple lucky or someone close to the president? You will never know.
Source: Lasexta
Ricardo is a renowned author and journalist, known for his exceptional writing on top-news stories. He currently works as a writer at the 247 News Agency, where he is known for his ability to deliver breaking news and insightful analysis on the most pressing issues of the day.
