United States President Donald Trump has marketed himself as the president who truly embraced bitcoin (BTC), but has his willingness to cooperate with the industry resulted in price appreciation compared to previous administrations?
Protos used data from CoinGecko and CoinMarketCap to plot BTC’s relative performance up to this point during Barack Obama’s second term, Trump’s first term, Joe Biden’s term, and Trump’s second term.
Trump’s two terms represent the best and worst relative BTC performances.Read more: ANALYSIS: Eric and Donald Trump Jr. are cashing in on crypto
The best performance at this point was in Trump’s first term, which saw BTC appreciate from less than $900 to nearly $8,500, an increase of approximately 850%.
Meanwhile, the worst performance can be seen during the current Trump administration, which has overseen a fall for BTC from over $101,000 to just over $71,000, a decrease of nearly 30%.
The two Democrat presidents sit between these relative extremes, with Obama presiding over an increase in BTC’s price from $212 to $584, an jump of around 175%.
Biden and his much-maligned cryptocurrency regulatory regime saw the price increase from approximately $36,000 to $44,000, a rise of 23%.
Trump is the only one of these presidents who has set himself up to profit directly from the crypto industry.
He’s the co-founder emeritus of World Liberty Financial, earns returns from the $TRUMP memecoin and the line of Trump digital trading cards, and Trump Media and Technology Group, the firm behind his beloved Truth Social, has diversified into crypto exchange traded funds.
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Source: https://protos.com/chart-which-us-president-was-best-for-bitcoin/
