Crypto:
30253
Bitcoin:
$66.096
% 0.20
BTC Dominance:
%54.0
% 0.46
Market Cap:
$2.41 T
% 1.30
Fear & Greed:
74 / 100
Bitcoin:
$ 66.096
BTC Dominance:
% 54.0
Market Cap:
$2.41 T

Trump’s Words Propel “Jeo Boden” Token as Cryptocurrency Donation Door Opens

Boden Token

The offhand comment by the former U.S. President Donald Trump about the “Jeo Boden” token—a crypto token created to poke fun at his rival Joe Biden—sparked a frenzy that shook the crypto world. In Trump’s NFT Gala in Palm Beach, Florida, right, Trump disclosed his dissatisfaction with the token that shockingly gained up in value following the comment.

Former President Trump’s Remark Sparks Surge in BODEN Token

“I don’t like this investment,” he shrugged casually during his spontaneous Q&A section at the gala, where he was publicizing cryptocurrency donations. BODEN, a cryptocurrency that was mistakenly named after Biden, gained 25% immediately following Trump’s accusatory statement buzzing around the room.

The gala, held at Trump’s Mar-a-Lago estate, was attended by hundreds of guests ready to embark on the soiree of NFTs. In the midst of talks regarding the digital collectibles featuring his image, the property developer indicated that further information regarding his contributions to cryptocurrency will be shared soon.

Trump Signals Openness to Cryptocurrency Donations at the Mar-a-Lago Gala

So far, Trump’s presidential campaign is not taking crypto donations, but nonetheless, he is telling his followers that he will follow this route. A response to a question about crypto contributions led Trump to wittily say, “If you cannot, do not worry. I will make sure you can!”

The significance of Trump’s speech transcended the event, reverberating over the cryptocurrency prediction market. Recently on Polymarket, where traders speculate on future events, there was no movement at all with regard to the ‘Will Trump mention $boden before July?’ contract, despite all the attention that the press gives to the president’s words.

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The contract, where a mention is defined as any reference to the cryptocurrency in speech or through official communication channels, has so far been unaltered. Investments in the “buy yes” option, which provides payment in the case of “Boden” being brought up by Trump as early as July, registered an increase of just 5% (experts estimate its opportunity in the low single-digit).

Although the BODEN token is not by far approved by now President Trump, the rise in its price following his comment is a clear illustration of the volatile nature of memecoins, which can quickly take a ride of even short-lived publicity. There is great interest in Trump’s changing stances on digital assets’ donations due to the colliding of politics and cryptocurrencies, implying a possible shift in campaign finance.

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