Bitcoin performed better during Trump’s first term as president

Donald Trump has embraced the cryptocurrency ecosystem this term, launching multiple projects, promising a bitcoin reserve and a digital asset stockpile, and voicing his support for legislation moving through the House and the Senate.

At a press conference hosted by “Crypto Czar” David Sacks, several legislators voiced their intention to advance multiple pieces of legislation, specifically noting their confidence that they would be able to pass out of both the House and the Senate within the first 100 days of the term. 

Despite Trump’s promises to support both the traditional market and the crypto market, both have performed worse early in this term than in his first term. 

Read more: Ethereum down 33% since Eric Trump suggested it was a ‘great time’ to buy

When Trump came into office in 2017, bitcoin (BTC) was worth less than $900. By the time he left office, it ended up appreciating to over $30,000. The first 100 days alone saw it increase to over $1,300, a nearly 50% jump.

During this term, Trump described BTC by saying, “it just seems like it’s a scam.”

At the beginning of Trump’s second term, BTC was worth approximately $102,000 but has since dropped to around $80,000.

This is despite the fact that the president’s own crypto project, World Liberty Financial, has been acquiring millions of dollars worth of Wrapped Bitcoin. 

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