Potcoin backs Dennis Rodman’s high profile trip to Singapore

US-based cryptocurrency Potcoin has for the second time paid for a trip by former NBA star Dennis Rodman focused on diplomatic efforts to bring the United States and North Korea together.

The first time, Potcoin paid Rodman’s way to North Korea to meet with the country’s leader Kim Jong-un in an attempt to iron out differences between his government and Washington. And on this occasion, to be present in Singapore during the US-North Korea summit. He is one of the few people in the world to have met Kim and US President Donald Trump, although not in an official capacity.

“Thanks to my loyal sponsors from @potcoin and my team at @Prince_Mrketing, I will be flying to Singapore for the historical summit,” Rodman said on Twitter. “I’ll give whatever support is needed to my friends, @realDonaldTrump and Marshall Kim Jong Un.”

The irony of it all is that marijuana is a no no in Singapore and North Korea. In Singapore, possession brings up to 10 years in jail and import or export of more than 500 grams is punishable with the death sentence. In North Korea, it’s classed in the same category as cocaine and heroin.

Experts believe Rodman’s trip will serve Potcoin as a major marketing boost for the marijuana token, which is currently priced at $0.07 (£0.05) and has a market capitalisation of about $17 million (£12.7 million). As a result of his appearance in Singapore, the PotCoin price jumped by 20% in the last 24 hours, increasing by $4 million (£2.99 million) to its market capitalisation, according to CoinMarketCap data.

A few years ago, Rodman told news outlets that he and Trump would visit Kim, but the US President later suggested the ex basketball player was either “drunk or on drugs.”

Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.

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