Yes, it’s another Onion-esque headline and yet another time when I personally have wondered if spirit messages from another dimension are coming through my computer, because all rationality tells me that this can’t be happening. Oh but it is: and this is just the beginning. As you know, Trump decided he needed a meme coin for his Inauguration and then wifey got into the act just today, and she became a billionaire in her own right — on paper. And for reasons which we will explore, $Melania began to trump $Trump and so she soared while he sank — again, on paper. We are in the never never land of crytocurrency and the stock market.
The coin just erased over $5 billion in market cap in a matter of seconds.
$MELANIA coin is being viewed as a competitor against $TRUMP coin.
This has resulted in a sharp drop in demand for $TRUMP.
Follow us @KobeissiLetter for real time analysis as this develops.
— The Kobeissi Letter (@KobeissiLetter) January 19, 2025
The Fully Diluted Value (FDV) of this coin just hit a record $13 billion.
Combined with $TRUMP, the coins have an FDV of $60 billion.
Is this the most unprecedented weekend in crypto history?
Follow us @KobeissiLetter for real time analysis as this develops.
— The Kobeissi Letter (@KobeissiLetter) January 20, 2025
This is like musical chairs. If you’re the one still standing when the music stops, you lose your shirt.
Early buyers of Trump’s coin have seen triple-digit percentage increases since Friday evening with some traders missing out because they believed Trump’s social media channels had been hacked.
The Trump family memecoin blitz comes after David Sacks, named crypto and artificial intelligence czar by Trump, declared a new age of U.S. crypto innovation.
“The reign of terror against crypto is over, and the beginning of innovation in America for crypto has just begun,” Sacks said, speaking on Friday at the so-called crypto ball event, intended to drive support for Trump among the crypto community and demonstrate its value to the incoming administration.
Again, I remind you that Trump made $6 Billion on Truth Social — and then it began sliding into oblivion. We have been here before. I’m sure Melania is elated or will be until it all starts to go away. She’s been selling NFTs, (which are not tangible items but at least they’re not as theoretical as crytocurrency,) and Xmas ornaments and tacky jewelry. It would take a warehouse full of that junk to move in one weekend and it still wouldn’t match this theoretical influx of massive wealth.
It’s all game playing. This is what the Trumps do. And the American electorate decided to say, “Here kids. Here’s the keys to the store. Do whatever you want.” I wouldn’t be surprised if Trump pillages Ft. Knox. It may have been a Bond movie fantasy 60 years ago, but that was before Orange Finger got elected.
The crytocurrency market is highly volatile. Any investment advisor will tell you don’t invest more than you can afford to lose. It all sounds reasonable on paper. You invest in crypto and you can start paying people with crypto. There are ledgers on computers which keep track of the transactions.
But on the downside there are no legal protections and no regulatory bodies like banks have. Which makes perfect sense why the Trumps love all this. It’s right up their alley. Cryptocurrency can also be used for illegal activities because of anonymity and the borderless nature of it.
It’s pure risk, but evidently MAGA just views life as a gigantic roulette wheel and they want to turn it all over to a reality TV actor and his ex-model WINO (wife in name only.) Here’s what’s on the melaniameme.com site.
Melania memes are digital collectibles intended to function as an expression of support for and engagement with the values embodied by the symbol MELANIA. and the associated artwork, and are not intended to be, or to be the subject of, an investment opportunity, investment contract, or security of any type. https://melaniameme.com/ is not political and has nothing to do with any political campaign or any political office or governmental agency. See Terms & Conditions Here
“An expression of support for and engagement with the values embodied by the symbol MELANIA, and the associated artwork” (?!?) Artwork? Values? The “artwork” is perfect, Melania laughing her ass off because the joke is on MAGA. Is that the artwork they’re talking about or is there more? Hey, I hope they like losing their money.
This world has gotten crazy friends. And tomorrow at noon it gets crazier still. Melania will move into the White House, I guess, but how much cryptocurrency you want to bet she’ll be back in Trump Tower with Barron before the week is out?
******
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If Melanie is smart she will start buying unset diamonds,and gold and prime real estate ( A nice condo in NYC, one in Paris, a third somewhere warm but far from.the stench of Fat Donnie, say Palm Springs)and take the cash and run.