Some online platforms have started accepting cryptocurrency issued by former U.S. President Donald Trump for payment of goods, according to Bloomberg.
Trump’s meme coin was announced on January 17, and the former president actively promoted it on social media. Meme coins are typically cryptocurrencies that hold no real value and are created for entertainment purposes.
However, now holders of Trump’s meme coin can use it to purchase items on websites selling products with his branding, such as watches, perfumes, and sneakers. Recently, other online platforms, like the travel platform Travala, also began accepting $Trump as a payment method.
Less than a day after its launch, Trump’s cryptocurrency quadrupled in value, but later its price significantly dropped. As of now, according to CoinMarketCap, the market value of the cryptocurrency is $5.4 billion.
Trump had previously expressed support for digital currencies. Even before his victory in the November 2024 elections, he announced plans to make the U.S. the “global capital” of cryptocurrency. In July, he revealed plans to create a national strategic Bitcoin reserve in the event of a victory and became the first former U.S. president to pay with Bitcoin at one of his campaign events.
