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

Former President Donald Trump humorously suggested at a fundraising event in September that cryptocurrency could be used to pay off the U.S. national debt, while expressing optimism about its future. Trump, who has never shied away from sharing his opinions, previously criticized Bitcoin on Twitter several years ago.

What Happened: The price of Bitcoin BTC/USD has been highly volatile over the last several years. The leading cryptocurrency hit all-time highs in November 2021 before crashing down and falling 65% in 2022 after the bankruptcies of several crypto-related companies like FTX.

New all-time highs were hit in March 2024 on the heels of new optimism for the cryptocurrency sector and the launch of Bitcoin ETFs at the start of the year.

Back in 2019, Trump shared his opinion about the leading cryptocurrency.

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

Trump went on to also call out Libra, a virtual currency that Meta Platforms was working on at the time.

"If Facebook and other companies want to become a bank, they must seek a new Banking Charter and become subject to all Banking Regulations, just like other Banks."

Trump said the real currency in the United States is the U.S. Dollar, which will remain the "most dominant currency anywhere in the world."

Similar to several of Trump's other takes, like selling shares of Apple Inc over complaints of the size of the screen, investors who faded Trump’s opinion could have racked up some profits.

Years later, Trump would use the power of cryptocurrencies to launch his own non-fungible token collection, built on the Polygon MATIC/USD blockchain and using Ethereum ETH/USD as a payment option. Many on social media were quick to point out the president calling Bitcoin a scam previously.

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Investing $1,000 in Bitcoin: On the day that 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 have purchased 0.0823 BTC.

That $1,000 investment would be worth $5,237.03 today based on a price of $63,633.38 for Bitcoin at the time of writing. This represents a return of +423.7% over the last five years.

At its peak of $73,750.07 in March 2024, the $1,000 investment would have been worth $6,069.63, up 507% from the time of Trump's tweet.

Read Next:

• If You Invested $100 In Shiba Inu When The Coin Launched, Here’s How Much You’d Have Now

Image created using artificial intelligence via Midjourney.

Some elements of this story were previously reported by Benzinga and it has been updated.