In the first 100 days of Donald Trump’s presidency, Bitcoin dropped by 13%, even after his establishment of a Bitcoin Strategic Reserve. While Bitcoin peaked at $109,000 prior to his inauguration, Trump’s tariff policies contributed to market downturns. In contrast, under Joe Biden, Bitcoin surged 60% in his initial days, reaching $57,750.18 thanks to a supportive economic environment.
In his first 100 days in office, President Donald Trump, often called the “crypto president,” has seen Bitcoin decline by 13%. This comes despite his promise to establish a Bitcoin Strategic Reserve, which he announced on January 20. The creation of this reserve aimed to harness Bitcoin from federal seizures, but it did not mitigate the cryptocurrency’s downturn since Trump’s inauguration.
Bitcoin reached an all-time high of $109,000 shortly before Trump’s inauguration on January 20, largely due to optimism surrounding his administration. During his campaign, Trump promised a national Bitcoin reserve, which led to a bullish attitude among investors, pushing Bitcoin past the $100,000 mark for the first time ever. However, despite that early enthusiasm, Bitcoin’s value plummeted by over 13%.
The primary reason for Bitcoin’s decline appears to be Trump’s aggressive tariff policies against major trading partners. These policies have generated significant economic uncertainty, leading to fears of a recession that have, in turn, affected cryptocurrency markets. Earlier this month, Bitcoin’s price dipped to a low of $76,000 but has recently bounced back, even though it remains 13% below its peak value.
In contrast, when Joe Biden assumed office on January 30, 2021, Bitcoin traded at approximately $36,000. In the following 100 days, it skyrocketed by nearly 60%, reaching $57,750.18. This bullish performance included setting an all-time high of $64,800 during that period, fuelled in part by the Federal Reserve’s decision to keep interest rates near zero, which boosted investments in riskier assets like Bitcoin.
Currently, Bitcoin is valued at around $94,817.49. This price shows minimal fluctuation since yesterday, as per the data provided by Benzinga Pro. Investment trends indicate a cautious but resilient market amongst investors, despite past volatility.
