Argentine President Javier Milei raises the value of the LIBRA currency by 60% by retweeting

The value of the cryptocurrency LIBRA, which is based in Solana, increased by more than 60% after Argentine President Javier Milei reposted a tweet including an educational program by Darrion Epstein, the research director, on how to purchase the token. The retweet led to a significant rise in the token price, with the market value briefly reaching $4.5 billion.

In the meantime, Darien Epstein has tweeted to clarify that he only posted the tweet to show that it is not easy for the average person to buy the meme coin.

"It is not an endorsement, educational program, or recommendation. The description is just to show the difficulty of an ordinary investor, who does not belong to the ecosystem, in buying. Do not mislead people," he said. However, the tweet made more traders rush to buy the token.

Miley promoted the LIBRA currency on Valentine's Day as a special initiative to stimulate the Argentinian economy through funding small businesses. Upon launch, the currency saw a massive surge but later collapsed, losing more than 90% of its value.

Another pump and discharge?

The initial rise in the value of the token came with many questions about its legitimacy. 82% of the LIBRA token supply has already been opened through multiple addresses, which some believe indicates central control over the token.

The project was related to KIP Network Inc. and its KIP protocol, a Web3 framework for AI applications. A note appeared on the project's website stating "A private initiative project developed by KIP Network Inc. © 2025".

After the incident that occurred on February 14, Meili deleted his tweet, claiming that he had no prior knowledge of the project details. He said that he stopped promoting it as soon as he learned more. However, the violent reactions continued, with the Financial Technology Room in Argentina suspecting it to be a "fraudulent operation," in which creators inflate the value of the cryptocurrency token before selling it to make a profit.

The trader withdrew 3.3 million dollars
According to Lookonchain, President Mili retweeted, and a user named "goofyahh.sol" quickly invested $5 million in LIBRA and made an unrealized profit of $2.8 million. Shortly afterwards, the user sold all of his tokens, making another profit of $497,000.

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