Just like you already laid out the question, was it really necessary for him to create his own token, no it wasn't, but what is the reason why he created the token? As a US President, I doubt if the reason why he created that token was to defraud people of their money just like so many altcoins will do. I strongly believe that he has his own reasons why the token was designed. I was wondering if it's to enrich himself or actually identify those that are fully into crypto, after which they will be identified and the amount of Bitcoin they own.