USAcoin: The Meteoric Rise of a Satirical Cryptocurrency

In a follow-up post, Schiff wrote, "I'd rather get in on the ground floor of U.S.A. Coin instead," fueling speculation about his true stance.

Economist and gold enthusiast Peter Schiff, known for his critical stance on Bitcoin, has inadvertently fueled the rise of a new crypto token—USA Coin (USACOIN)—with his satirical suggestion.

In December 2024, Schiff posted about a "USA Coin" on Twitter and his Telegram channel, suggesting he'd rather invest in that than Bitcoin. However, no such official token exists, and Schiff's post was likely intended as a joke or satire.

Despite its satirical origins, USACOIN has become a real token, trading on major crypto exchanges under the ticker "USACOIN." The token's price skyrocketed, surging by over 600% in 24 hours at one point.

According to CoinMarketCap, USACOIN is ranked among the top 200 cryptocurrencies by market capitalization, with a trading volume of over $100 million. The token's extreme volatility highlights both the speculative interest and uncertainty in the market.

While Schiff has not explicitly endorsed the token, his comments sparked a buzz around "USA Coin," leading to the creation of the USACOIN token. The project has now become a cultural phenomenon, attracting traders seeking to capitalize on the hype.

Some speculate that Schiff's satire might pave the way for discussions on government-backed cryptocurrencies, particularly as countries are exploring Central Bank Digital Currencies (CBDCs). Others view the token as another memecoin that will likely fizzle out once the hype subsides.