Bulgaria, Bulgarians and the stir in the world of cryptocurrencies

$TRUMP AND $MELANIA - innovation, а political move or a family business strategy

published on 1/29/25 10:30 AM

Photo: Pixabay

A few hours before being sworn in for the second time as President of the United States, Donald Trump shocked the international community with the news that he was launching his own cryptocurrency, called $TRUMP. A precedent that provoked many questions about the reason for the creation of this project, but also about the possible changes in the field of decentralized finance /DeFi/. His wife also joined the initiative with her own meme coin $MELANIA.

And while the crypto tokens of the US President and his first lady are stirring up the layers in the field of digital currencies, we naturally asked ourselves the question - where do we, Bulgarians, stand in the world of decentralized finance and do we have enough experience and knowledge to apply in case of possible changes in this area? ‎

We learn more from cryptocurrency expert Valentin Mihov, who will soon share his knowledge and experience with students at the University of National and World Economy /UNWE/ in Sofia, in an interview for Radio Bulgaria:

‎"In general, in Bulgaria we have traditions mainly in mining cryptocurrencies - mainly Bitcoin and Ethereum. But in addition, there is a large Bulgarian companies in the field of cryptocurrencies. Back in time, we saw some attacks on it, which in my opinion have been unfounded. They have a pretty good business that is developing, making money, and we could not say that it is a matter of manipulation, fraud or anything like that. In Bulgaria, we are more in the field of outsourcing, i.e. there are teams that develop software in this field, but very few make their own products. In this regard, Serbia occupies a more leading position than us - they have their own products in the cryptosphere, which are extremely successful. Another European country that has proven its influence in this sector is France. So we have a lot to catch up on in this regard. For this purpose, education and more people who are interested are needed," notes cryptocurrency expert Valentin Mihov.

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Mihov adds that many students have expressed a desire to enroll in the new master's program at the University for National and World Economy in Sofia, in which cryptocurrencies will be studied:

"Initially, the idea was to admit 20 students, but later the quota was increased to 40, due to the great interest in the program. This program is just starting and it will be interesting for me to see what kind of people have enrolled in this course. I hear that bachelors who want to continue their studies come to the University for National and World Economy with the idea of learning more about cryptocurrencies. For me, this is an experiment and I will continue to observe how it will develop."

As for the cryptocurrencies launched a few days ago by the Trump family, expert Valentin Mihov believes that memecoins - such as $TRUMP and $MELANIA - are a type of centralized currency, and this is a major obstacle to making a profit. The reason is the main funds that are in the hands of the creator of the project, who determines their development, as well as their prices on the market. In this regard the expert warns:

"I would recommend that people view these cryptocurrencies as a type of gambling. This means that if they decide to invest in them, it is equivalent to spinning a roulette ball. If our number comes up, we can win, but in reality there is a very high chance of losing the money we have invested. This type of meme coins are extremely risky. If people are just starting to invest, I would recommend that they focus on the major cryptocurrencies like Bitcoin, Ethereum, and Solana, and always avoid projects like meme coins and others, which are much riskier compared to the major cryptocurrencies."

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