President Donald Trump of the United States has positioned himself as a leader who wholeheartedly supports bitcoin ($BTC). However, has his openness to the cryptocurrency sector led to a rise in its value compared to earlier administrations?
Protos analyzed data from CoinGecko and CoinMarketCap to chart $BTC‘s performance during Barack Obama’s second term, Trump’s first term, Joe Biden’s presidency, and Trump’s current term.
For further insights: ANALYSIS: Eric and Donald Trump Jr. are capitalizing on crypto
The most significant growth occurred during Trump’s initial term when $BTC surged from under $900 to nearly $8,500—an astonishing increase of about 850%.
Conversely, the current administration under Trump has witnessed a decline in $BTC, which fell from over $101,000 down to just above $71,000—a drop of nearly 30%.
The two Democratic presidents fall somewhere between these extremes. Obama oversaw an increase in $BTC‘s price from $212 to $584—an approximate gain of around 175%.
Biden’s controversial approach towards cryptocurrency regulation resulted in a modest price rise for bitcoin—from roughly $36,000 up to about $44,000—a growth of only 23%.
Notably, Trump is unique among these leaders as he has established avenues for personal profit within the crypto industry.
He holds an emeritus co-founder title at World Liberty Financial and benefits financially from the popularity of the memecoin named after him ($TRUMP) along with his series of digital trading cards. Additionally, his company Trump Media and Technology Group—which operates Truth Social—has expanded into cryptocurrency exchange-traded funds (ETFs).