Jeo Boden (BODEN) — a meme coin inspired by the misspelling of U.S. President Joe Biden’s name — has seen its value surge after former President Donald Trump gave a lukewarm response to fan questions about cryptocurrency Soaring.

The incident occurred during the Trump Card NFT Gala at Mar-a-Lago in Palm Beach, Florida, where Trump was hosting holders of his digital collectibles. When asked about BODEN, which reportedly has a market capitalization of $240 million, Trump simply said:

I don’t like this investment.

Despite the less-than-stellar endorsement, Borden’s net worth soared 25% after Trump’s comments. This incident demonstrates the power of publicity, even in its most prosaic form, when it comes to memecoins and other speculative investments in the cryptocurrency market. Despite this, according to CoinMarketCap data, BODEN has still fallen back to $0.3208 as of press time, with a market value of $221 million.

Trump’s stance on cryptocurrency donations

During an impromptu question-and-answer session, Trump was also asked whether his presidential campaign would accept cryptocurrency donations. Although his campaign is not currently accepting digital asset donations, the presidential candidate assured viewers that he will ensure this is an option in the future.

On the cryptocurrency-based prediction market platform Polymarket, the contract “Will Trump mention $BODEN by July?” remained relatively unchanged after the event. The contract defines “mention” as a spoken or written use of the word “boden,” specifically with respect to cryptocurrencies. Trump’s brief comments fell short of the mark, and the likelihood that he will mention Borden before July 1 remains low at just 4 percent.

Cryptocurrency is becoming less and less a topic in discussions surrounding presidential candidates. Earlier this week, ReadWrite reported that pro-crypto independent U.S. presidential candidate Robert F. Kennedy Jr. will speak at the upcoming Crypto Consensus 2024 conference in Austin, Texas. delivered a speech.

Current U.S. President Joe Biden also recently proposed a 30% tax on cryptocurrency mining computing power, sparking outcry from the cryptocurrency industry and being criticized for potentially harming the industry and wiping out investor wealth.

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