If You Invested $1,000 In Bitcoin When Donald Trump Said He Wasn’t A Fan, Here’s How Much You Would Have Today

[ad_1]

Former President Donald Trump isn’t one to shy away from sharing his opinions on social media. A past view of cryptocurrency could be an issue raised in the 2024 election, with many candidates having differing views on the crypto industry.

Here’s a look back at Trump’s past on major cryptocurrency Bitcoin BTC/USD several years ago.

What happened: The price of Bitcoin skyrocketed in 2021, reaching all-time highs and seeing many top cryptocurrencies as trending topics throughout the year. Cryptocurrencies have seen turbulent times since all-time highs, with bankruptcies and meltdowns of crypto-related businesses like FTX driving prices down.

In 2019, Trump shared his opinion on Bitcoin.

I am not a fan of Bitcoin and other cryptocurrencies, which are not money, and whose value is highly volatile and air-based, Trump tweeted on July 11, 2019.

Trump also called out Libra, a virtual currency Meta Platforms META was working on at the time.

If Facebook and other companies want to become a bank, they must apply for a new banking charter and be subject to all banking regulations, just like other banks.

Trump has said the real currency in the United States is the US dollar, which he says will remain the most dominant currency anywhere in the world.

Similar to several other Trump moves, such as selling shares of Apple Inc following complaints about screen size, investors who lost Trump’s opinion could have reaped a profit.

Years later, Trump would use the power of cryptocurrencies to launch his own collection of non-fungible tokens. Many social media outlets were quick to point out that the former president had previously called Bitcoin a scam.

Presidential candidates Vivek Ramaswamy and Robert Kennedy Jr have both announced that they will accept Bitcoin for campaign donations. Several candidates, including Trump’s main GOP competitor, Ron DeSantis, have pro-crypto positions that could become a focal point in the debates and in the run-up to the election.

Related Link: Here’s How Much Donald Trump Earned From NFTs, Social Truth, and Other Business Ventures

Investing $1,000 in Bitcoin: On the day Trump blasted Bitcoin and cryptocurrencies, the top cryptocurrency was trading between $11,158.92 and $12,144.62.

Based on the high of the day, an investor could have bought 0.0823 BTC.

This $1,000 investment would be worth $2,137.55 based on a Bitcoin price of $25,972.61 at the time of writing. This represents a yield of 113.8%.

At its peak of nearly $69,000 in November 2021, the $1,000 investment would have been worth $5,661.33, up 466% since Trump’s tweet.

Read next: Would you spend $4,500 to have dinner with Donald Trump? Here’s what Benzinga subscribers said

Photo: Created with images by Gage Skidmore on flickr.

[ad_2]