The former President Donald Trump she didn’t shy away from sharing her opinions on the social media platform Twitter:. Here’s a look at Trump’s take on Bitcoin shared on Twitter a few years ago.
What happened: the price of Bitcoin: BTC / USD has been highly volatile over the past few years. The leading cryptocurrency reached all-time highs in November 2021 before collapsing and a 65% decline in 2022 after the cryptocurrency was linked to the bankruptcy of several companies like FTX.
Back in 2019, Trump shared what he thought was the leading cryptocurrency.
“I’m not a fan of bitcoin and other cryptocurrencies, which are not money and whose value is highly volatile and based on thin air,” Trump said. on Twitter on July 11, 2019
Trump also went on to name Libra, the virtual currency that Meta platforms AFTER: was working at the time.
“If Facebook and other companies want to become banks, they should seek a new banking charter and be subject to all banking regulations like other banks.”
Trump said that the real currency in the United States is the US dollar, which will remain “the dominant currency everywhere in the world.”
Like some of Trump’s other options, like selling stocks Apple Inc AAPL: With complaints about the size of the screen, investors weighing on Trump’s opinion could have made some gains.
Years later, Trump will use the power of cryptocurrencies to launch his own set of irreplaceable tokens, built Polygon MATIC/USD blockchain and usage Ethereum: ETH / USD as a payment option. Many on social media were quick to point out that the president had previously called Bitcoin a scam.
Related link: Elon Musk welcomes Trump back to Twitter
Invest $1000 in BitcoinOn the day Trump blasted Bitcoin and cryptocurrencies, the leading cryptocurrency traded between $11,158.92 and $12,144.62.
Based on the high of the day, an investor could buy 0.0823 BTC.
That $1,000 investment would be worth $1,377.53 today, based on Bitcoin’s price of $16,737.95 at the time of writing. This represents a return of 37.8%.
At a peak of around $69,000 in November 2021, a $1,000 investment would be worth $5,661.33, up 466% from the time of Trump’s tweets.
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Photo created with images Gage Skidmore on flickr.