Trump’s Presidency Shows Little Impact On Bitcoin

Despite Donald Trump’s attempts to align himself with the cryptocurrency space, Bitcoin’s price has remained largely unchanged during his presidency. According to CoinGecko data, BTC traded at $101,275 on January 20, the first day of Trump’s term, and currently trades at $101,521, representing a less than 0.25% increase.

This performance occurs despite World Liberty Financial, where Trump holds the title of “co-founder emeritus,” having invested substantially in Bitcoin.

The contrast with Joe Biden’s presidency is notable. BTC traded at $36,104 on the first day of Biden’s term and reached $64,432 by November 13, a 78% increase.

Several crypto executives, including Jesse Powell, Tyler Winklevoss, and Cameron Winklevoss, made significant donations to Trump’s campaign, later refunding portions deemed excessive. Powell expressed the donations were meant to “unite” the crypto community and solidify the U.S.’s position in blockchain technology.

The Trump Administration has also reduced or paused enforcement actions against cryptocurrency firms.

However, Bitcoin’s price has remained nearly flat over the past 298 days, demonstrating limited impact from these actions or Trump’s affiliation with the space.

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Source: protos.com

Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility.