00:00On Thursday, President Trump holds a dinner with the top holders of his meme coin, which now has a value of about $2.5 billion.
00:08Controversial crypto entrepreneur Justin Sun just announced on X that he will be at the dinner.
00:14And he said, quote, that he is honored to support the president and grateful for the invitation to attend President Trump's gala dinner as his top fan.
00:23Bloomberg's Olga Karif has been following some of the investors going to the dinner.
00:26And, of course, Justin Sun is the top holder of the Trump coin, isn't he?
00:31Olga, who else is going to be there?
00:33So people attending the dinner are going to be the 220 top holders who registered on the special leaderboard to win the dinner.
00:44So these are not necessarily all, you know, the very top holders of the coin, but people who registered on this leaderboard, a lot of the names registered there, they're anonymous.
00:55We don't know exactly who these people are.
00:58But I spoke, for example, with Morten Christensen, who he and four of his friends decided to buy this token.
01:10They're just they've been involved in crypto for a while.
01:13They bought this token.
01:14They also shorted it on exchanges and ended up winning seats at this dinner for about $500 each.
01:24That's shocking to me.
01:26I'm looking at your story from earlier, Olga.
01:29How did they do this?
01:30And, well, you mentioned they shorted it.
01:32They bought it.
01:33So they've been in crypto for a while.
01:35So they know how to do this.
01:37How does that compare to the other folks who we know of who are attending the dinner and how much it costs them?
01:42So the costs differ because the leaderboard calculated the winners based on their average sort of daily holdings.
01:52So the factors that factored into the win were, you know, how long they held the coin for and how much of the coin they held.
02:02So some people might have gotten into the dinner for buying about $50,000 worth of the meme coin.
02:11Other people might have spent a million dollars.
02:15It all depends on when they invested exactly.
02:18But the five friends that I just mentioned, they spent about $1,200 just in fees on buying the coin and selling it and shorting the coin.
02:33But perhaps some of the other people on the leaderboard actually bought the coin and are holding it because they're hoping to win some,
02:43get some sort of unique NFTs that will be provided to people who are still holding the coin to attend the dinner.
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