Donald Trump Shook the Market with His Own Altcoin! So Will He Distribute Airdrops?

US President-elect Donald Trump, who is expected to officially take office today, launched his own token over the weekend.

The memecoin named TRUMP, which attracted great attention, turned the altcoin market upside down and its market value rose rapidly, reaching the 16th place.

While almost the entire market was talking about Donald Trump’s inauguration and the memecoin he released called TRUMP, an airdrop proposal came from former Coinbase CTO Balaji Srinivasan.

Balaji Srinivasan, in his X post, suggested US President Donald Trump to give TRUMP airdrop to US citizens.

Srinivasan said:

“Trump could airdrop some TRUMP to every US citizen. Specifically, he could give 72 hours notice and Democrats of all stripes could sign up for his personal email list just to receive the airdrop.

As far as I know, no politician has ever attempted a personal airdrop to give money to people before.

At current valuations, Trump could airdrop $100 worth of locked-in TRUMP to 77 million Trump voters, costing him “only” $7.7 billion in an asset that was worth zero two days ago. He could even give $500 per person and still have more than $20 billion left over.

Memecoins are Gambling!

While presenting an airdrop proposal to Trump, former Coinbase CTO Srinivasan argued that all memecoins could be equated with gambling and would not create any wealth.

“There is no wealth creation. Every buy order is simply matched by a sell order. And after the initial rise, the price eventually crashes and the last buyers lose everything.

Memecoins should be approached like recreational gambling in Las Vegas.

“At this point, people should buy assets that will retain their value over the long term. Sometimes it can be a memecoin, and we’ve seen examples of that.”

Balaji finally stated that Bitcoin is not a memecoin and argued that BTC is not considered a memecoin due to its usage areas and its durability of over ten years.

*This is not investment advice.