Donald Trump has tried to pitch himself as the bitcoin (BTC) president; however, this hasn’t translated into a price bump for the asset.
On January 20, the first day of Trump’s term, BTC traded for $101,275, according to data from CoinGecko. Today, it trades for $101,521, an increase of less than one quarter of one percent.
This is despite the fact that World Liberty Financial, where Trump is “co-founder emeritus,” has invested heavily in BTC.
Since Trump was elected, BTC has seen an increase of less than a quarter of one percent.Read more: ANALYSIS: Eric and Donald Trump Jr. are cashing in on crypto
This contrasts in an interesting way with Joe Biden’s presidency, oft-perceived by crypto leaders to be a much more hostile region.
On the first day of Biden’s term, BTC traded at $36,104, and by November 13, it was trading at $64,432, an increase of 78%.
Multiple crypto executives, including Jesse Powell, Tyler Winklevoss, and Cameron Winklevoss, all gave illegally large donations to Trump (with the excess eventually refunded).
Powell stated that he thought it was an opportunity for “our community to unite behind the only pro-crypto major party candidate in the 2024 presidential election so the United States can continue to remain a leader in blockchain technology.”
The Trump Administration for its part has dropped or paused a variety of enforcement activities against crypto firms.
However, despite this new permissive stance, BTC is almost completely flat over the last 298 days.
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Source: https://protos.com/chart-donald-trumps-presidency-hasnt-helped-bitcoin/
