The best "Hedging"! With an average of 1200 dollars, you can have dinner with Trump.

Holding $250,000 worth of Trump coin, yet only spending $1,200 to rank within the top 220 holders?

Written by: Jinshi Data

Morten Christensen stated that he and his four friends who are passionate about cryptocurrency will attend the dinner hosted for Trump coin holders next week, each spending about 1200 dollars.

The highest time-weighted positions of these five individuals in the past three weeks ranked in the top 220. Although a time-weighted position of at least about 54,500 dollars was needed to participate in the event held by Trump on May 22, Christensen and his friends believe that the actual amount spent was essentially just the trading fees, which was about 1,200 dollars per person.

According to him, their strategy was to buy Trump coins and short the exact same amount. Then, after announcing the winners on Monday, they immediately sold their Trump coins and closed their positions.

39-year-old Christensen said in an interview in Mexico: "I never even thought I would have the chance to meet the President of the United States. We thought the competition wouldn't take too much, we tried it, and we succeeded. But now the hardest part is convincing my wife to let me go."

The dinner for Trump coin holders with Trump will be held at the Trump National Golf Club in Potomac Falls, Virginia. Organizers stated that Trump will discuss the future of cryptocurrency at the event. The top 25 holders will be eligible to visit the White House.

Trump's plan to hold this event has drawn widespread criticism, with Democratic Senators Elizabeth Warren and Adam Schiff calling for a federal ethics investigation, claiming it is corrupt and subject to foreign influence, as many of the traders of this coin seem to come from other countries.

Due to concerns over the Trump family's expanding cryptocurrency business, the Democrats have also obstructed legislation to regulate stablecoins.

A small logistics company, Freight Technologies Inc., stated earlier this month that it may raise up to $20 million to establish a Trump coin treasury to facilitate business activities between the U.S. and Mexico. At the same time, GD Culture Group announced on Monday that it plans to raise up to $300 million to create a reserve consisting of Bitcoin and Trump coin.

Christensen stated that he made his first purchase in January, just one hour after the release of Trump Coin. He claimed that he sold it the same weekend for 30 times his purchase price, making hundreds of thousands of dollars.

Data compiled by CoinMarketCap.com shows that the coin's market value soared to nearly $15 billion shortly after its release, but has since plummeted to around $2.7 billion.

"Then he [Trump] announced the dinner, and at first I ignored it, thinking it was going to be very competitive," Christensen said. Then eight days before the end, I saw the leaderboard, and it didn't cost much, I thought it would cost $60,000 to $70,000."

Christensen stated that a few days later, the group created a software program to monitor the changes in holdings on the leaderboard and attempted to predict how much holding would be needed to ensure a place in the top 220.

He said that in the last few days, more large wallets appeared, and he and his friends bought more Trump coins last Friday, "just to ensure they make it into the top 220." He stated that by the weekend when the competition ended, his Trump coin holdings were worth about $250,000.

Christensen stated that he ultimately ranked 188th on the leaderboard and received notification on Monday confirming that he won a seat at the dinner, for which he has already booked a flight. Christensen said he knows about 20 other people will be attending the dinner, so there might be some socializing, but the focus is still on having fun. "It's more like a fun trip to meet the president with friends," he said. "It would be great if we could meet Barron (Trump's youngest son)."