Bitcoin performed better under Biden than Trump

Donald Trump, the sexual predator and current sitting president of the United States, has fully embraced bitcoin (BTC). World Liberty Financial, a cryptocurrency project he profits from, has purchased millions of dollars worth of tokenized BTC, and the federal government, at his direction, has placed BTC into a special stockpile and is searching for ways to purchase more.

This embracing of BTC comes after the cryptocurrency industry came out as decidedly pro-Trump. A wide variety of industry executives, including Cameron and Tyler Winklevoss, Brian Armstrong, Marc Andreessen, Michael Saylor, and many more, voiced their support for the authoritarian.

However, despite the industry’s support of Trump and Trump’s support of the industry, BTC has seemed to underperform.

Under Trump’s term so far, BTC has fallen over 13% from approximately $101,000 to around $87,000.

Under former President Joseph Biden, who has featured heavily in industry critiques of the government’s regulatory role, BTC saw an increase of approximately 45% in this same period of his term. This was a rise from approximately $36,000 to $52,000.

Even Trump’s first term, when he still considered BTC a “scam,” saw better performance than this term, with the currency rising by around 8% by the corresponding point. It saw an increase from around $890 to $960.

Trump’s repeated violation of trade agreements and threats of tariffs combined with large government firings have served as a brake on the economy, which may be hurting BTC as well as the broader financial markets.

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