Bitcoin breaks record again thanks to Trump just as Pepe trader turns $27 into a $52 million payout

Bitcoin sharpened its record price again in the night from Sunday to Monday. Donald Trump gave hints that the United States does indeed want to create a Bitcoin reserve, which caused the price to rise again.

At the time of writing, Bitcoin is trading at $104k. The highest price recorded last night was $106k.

HOLY SHIT. WE COULD HAVE A STRATEGIC BITCOIN RESERVE ON DAY FUCKING ONEpic.twitter.com/TMYccVjR8q

— The ₿itcoin Therapist (@TheBTCTherapist) December 15, 2024

Pepe, the political memecoin featuring the image of a frog which commentators claim is  a symbol of the Republican Party’s “alt-right” wing, continues to turn investors into millionaires. In 2023, a young investor already became a millionaire with an initial investment of only $263.

Now there’s a story about an investor who started with only $27 and cashed out a profit of $52 million. Twitterati claim this person is a Pepe insider, in other words someone who owned Pepe coins before they were put up for sale.

A $PEPE whale that had been dormant for 600 days transferred all 2.1T $PEPE($52M) to a new address.

This whale initially only spent 0.0135 $ETH($27) to buy 2.1T $PEPE and has held it until now.

From $27 to $52M—an extraordinary 1,900,000x return!https://t.co/Et442zxUGk pic.twitter.com/35sp0Iu46E

— Lookonchain (@lookonchain) December 14, 2024

Politiek

Memecoins have a bad reputation. Not only are they very volatile, but according to critics they are of no use whatsoever. Dogecoin, still the biggest memecoin, was invented as a joke in 2013 by IT nerds Billy Markus and Jackson Palmer, who tried to show that investing in Bitcoin and other digital currencies was useless. Ironically, their coin became so popular that Dogecoin is now worth billions of dollars.

At the beginning of last year, the political memecoin Pepe was launched to great fanfare, a memecoin with the image of ‘Pepe the Frog’, a cartoon character that has served as a symbol of the American ‘alt-right’ (what we call the far right in Europe) since the first election of Donald Trump in 2016. It was therefore very controversial already at its launch. Coinbase decided not to allow it on their platform at first, but when several crypto fans threatened to boycott it because of this, Coinbase eventually agreed and allowed Pepe for trading.

The popularity of the memecoin has increased incredibly since its inception. This year, Pepe is the fastest growing memecoin with a gain of some 1,600%. Since its first day of trading, Pepe has already risen 41,000%.

One investor did even better. Lookonchain, the crypto research channel, showed last week that someone recently made a profit of $52 million through Pepe, with a deposit of just $27 about 600 days ago. However, critics on Twitter are convinced that it is a Pepe insider (aka someone on the development team of the cryptocoin itself).