Launched on the Binance Smart Chain, the project was conceived as an initiative to support his candidacy for reelection in 2022, in addition to pursuing social and humanitarian purposes. According to the developers, 75% of the 60 million units of the token would be allocated to charitable causes indicated by the then-president, provided they were nonprofit entities. The token was listed on the NFXTrade exchange and also traded on PancakeSwap.
In the first 10 days of trading, the Bolsonaro Coin appreciated by 20%, reflecting a surprising initial demand, as reported by the creators. They claimed to have intervened to stabilize the price, aiming for sustainable appreciation. Despite carrying 'Coin' in the name, it is not a traditional cryptocurrency for transactions but rather a collectible NFT, tradable for other digital currencies or fiat money. In June 2021, its value was around R$ 1.22 (equivalent to 0.00000650 BTC), but only 115 digital wallets held it, according to BscScan.
The project generated interest among Bolsonaro supporters and crypto market speculators, but there is no evidence that it maintained significant relevance after the initial period or that it widely fulfilled the promised social objectives. It is an example of how political figures in Brazil inspired digital assets, although with limited reach compared to similar initiatives, such as the recent memecoins associated with Donald Trump in the USA.