Public figures are often honoured with having things named after them. It might be a building, or an airport, or a hospital wing. It might even – as is the case with Bob Marley, George Bush, and Kate Winslet – be an insect. In the case of British Prime Minister, Theresa May, it is nothing so pedestrian. Instead, she has found her name gracing part of the most exciting technological advancement in recent years… cryptocurrency.
Yes, the Conservative Leader and MP for Maidenhead has had an altcoin named after her.
The coin – labelled, appropriately enough, TheresaMayCoin - was launched in 2017, and has proven to be quite the performer, relatively speaking, seeing its initial value rise by some 700% in the last 12 months.
Of course, “relatively” is the key word there. TheresaMayCoin has indeed increased its value by a factor of seven, which is nothing to be sneezed at but, since it entered the markets at a risible $0.002, its current trading price on the digital exchanges is only $0.014 (or somewhere around a tenth of a penny).
Hardly the solution to paying the Brexit divorce fee.
TheresaMayCoin currently sits in 866th in the world rankings of cryptocurrencies, and seems disinclined to move any further at present. A single TheresaMayCoin is worth something in the region of 0.00000114 of a Bitcoin, or, to put it another way, one Bitcoin could buy you nearly 900,000 TheresaMayCoins.
May is not the first politician to be “honoured” this way. Altcoins bearing the monikers of Emmanuel Macron, Donald Trump and Vladimir Putin have all hit the market in the last year or so, and with similar lack of impact.
Political bantering aside, does TheresaMayCoin boast any advantages to the would-be investor? Apparently not. According to community insiders, there are no innovations to be found, with the coin essentially being a direct clone of the Trumpcoin.
There’s bound to be a satirical point to be made there.
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