Political Meme Coins Surge After Trump Libertarian Convention Speech
Former U.S. President Donald Trump’s appearance at the Libertarian National Convention has led to a surge in political meme coins, including the Trump-themed MAGA Hat (MAGA) cryptocurrency and the MAGA (TRUMP) meme coin.
The ConstitutionDAO (PEOPLE) token, originally created as a governance token for a now-defunct DAO aiming to buy a copy of the U.S. Constitution at auction, has also seen a surge in value.
Standard Chartered digital assets researcher Geoffrey Kendrick suggests that if Trump wins in November and becomes U.S. President for a second term, Bitcoin could benefit. He believes that a Trump administration would not be as strict on Bitcoin as a Biden one might be. If Trump wins, foreign official buyers of U.S. treasuries may want to shift to alternative financial assets.
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