Meme coin Official Trump TRUMP/USD, associated with President Donald Trump, launched ahead of the Jan. 20 inauguration day and took the cryptocurrency sector by storm.
A new poll shows readers are split on whether they would consider buying the meme coin.
What Happened: Posts made on X and Truth Social announced the official launch of the Trump coin, with some users believing the incoming president of the U.S. had been hacked.
Instead, the launch was done before Trump officially became president and he later confirmed his involvement with the cryptocurrency.
A large portion of the coin’s supply is controlled by Trump-affiliated companies, but retail investors also bought up supply of the coin. This and other factors may be keeping people from accumulating the cryptocurrency.
“Would you consider buying the Trump meme coin?” Benzinga recently asked its readers.
The results were:
The poll, which was conducted between Jan. 21 and Jan. 22, saw a mixed reaction from readers with the majority favoring not buying the coin. At the time the poll was conducted, TRUMP traded between prices of around $36 and $48.
At the time of writing, the coin trades at $27.02, continuing a drop since Trump’s inauguration.
Ark Invest CEO and founder Cathie Wood is no stranger to cryptocurrency as a big believer in Bitcoin BTC/USD and investor in both BTC and companies associated with cryptocurrency.
In a recent interview, Wood said the Official Trump coin was part of the “meme coin moment” and that Ark has avoided meme coins.
“I mean there is speculation that you’ll get to meet President Trump as one of the utilities of owning this coin. I don’t know if that’s the case or not. But so far, we don’t know of much utility for this coin, except that it is a meme coin of President Trump,” Wood said.
Wood said that Ark Invest stays away from buying meme coins like Trump, choosing instead to invest in the “Big Three” cryptocurrencies, which are Bitcoin, Ethereum ETH/USD and Solana SOL/USD, according to the fund manager.
The Ark Invest CEO endorsed Trump in the 2024 presidential election.
Read Also: Here’s How Much $100 In Bitcoin Could Be Worth In 2030 If Cathie Wood’s Price Target Is Reached
Why It’s Important: While Trump coin has fallen 26% over the past seven days, the cryptocurrency connected to the sitting president has attracted plenty of attention and 42% saying they would consider buying the coin shows the potential lasting power of the coin.
Benzinga also recently asked which famous person connected with Trump would be the first to disclose that they own Trump coin. Elon Musk won the poll with 61% of the vote. The Tesla CEO would likely share his ownership in a tweet or interview and has not done so to date.
Congresswoman Marjorie Taylor Greene (R-Ga.) finished second in the poll at 20%. Greene would need to disclose the purchase within 45 days as part of the STOCK Act.
Follow the Benzinga Government Trades page to see disclosures of stocks, options and cryptocurrencies bought by members of Congress.
Trump coin hit an all-time high of $75.35 on Jan. 19 and has fallen since. The coin has traded between $6.24 and $75.35 since launching.
Read Next:
The study was conducted by Benzinga from Jan. 21, 2025, through Jan. 22, 2025. It included the responses of a diverse population of adults 18 or older. Opting into the survey was completely voluntary, with no incentives offered to potential respondents. The study reflects results from 116 adults.
Photos: Wood, Courtesy ArkInvest; crypto coin and Donald Trump, Shutterstock
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