In a notable display of interest in President Donald Trump’s exclusive dinner for TRUMP memecoin holders, investors reportedly spent over $140 million on the token to secure an invitation to the event at Trump’s National Golf Club.
On April 23, it was disclosed that the top 220 holders of the memecoin as of May 12 would be granted access to a dinner with the President. This news catalyzed a major 40% increase in the token’s value, partially reversing an 88% decline seen in the weeks leading up to the announcement.
Buyers of the memecoin reportedly invested amounts ranging from $53,500 to a staggering $16.4 million to secure their invitations.
Austin Ryan, director of marketing for Inca Digital, noted that the movement of funds through these international platforms suggests that many buyers are operating outside US jurisdictions.
This has significantly raised concerns among government watchdogs and Democratic lawmakers about the implications of purchasing a Trump-branded asset for access to the President.
Tony Carrk, executive director of the watchdog group Accountable.US, voiced concerns over the anonymity of the top holders, noting that their identities remain obscured behind crypto usernames.
The exclusive dinner for the memecoin holders is scheduled for May 22 at the Trump National Golf Club in Washington, D.C., where the top 25 holders will enjoy a private VIP reception with the President, along with a special tour of the venue.
This has been led by the market’s leading cryptocurrency, Bitcoin (BTC), whose price has inched closer to its record high of $109,000 over the past two weeks. This positive shift in crypto prices is a result of the President’s tariff policies.
Featured image from CNBC, chart from TradingView.com
