The ongoing cryptocurrency downturn has left investors reeling, wiping away a major chunk of their gains since Donald Trump emerged victorious in the 2024 presidential elections.
Bitcoin BTC/USD, the world's largest cryptocurrency by valuation, sank below $77,000 for the first time in four months and, trading down 21% since Trump was sworn in as president.
While Bitcoin did not get off to the best start under Trump’s presidency, it is worth remembering that the apex cryptocurrency had a fantastic run during his previous tenure.
What happened: Trump won the 2016 elections, with his tenure beginning on Jan. 20, 2017, and lasting till Jan. 20, 2021.
During this time, Bitcoin soared from $898.17 to $36050.11, marking a whopping 3913.73% surge.
The fascinating bit was that there was no support from Trump whatsoever. In fact, back in 2019, he famously said he wasn't a "fan" of Bitcoin and that the value of cryptocurrencies was "based on thin air."
| Tenure | BItcoin Gains +/- | Bitcoin Value If Gains Repeated In Trump’s Second Presidency (2025-2029) |
| Donald Trump (2017-21) | +3913.73% | $3.13 Million |
| Joe Biden (2021-25) | +202.67% | $162,330 |
See Also: Dogecoin ‘Millionaire’ Labels Ongoing Crypto Meltdown A ‘Final Shakeout,’ But Here’s What These Analysts Think About DOGE’s Potential
Trump was succeeded by Joe Biden, who won the 2020 presidential election.
Biden’s tenure, which lasted from January 20, 2021 to January 20, 2025, witnessed two bull cycles for Bitcoin. The first occurred in the fall of 2021, when BTC reached $69,000, and the second was an all-time high of $109,000 set just before his departure.
The second bull run had less to do with Biden and more with the sky-high expectations from Trump's upcoming presidency. The GOP nominee had promised a Bitcoin strategic reserve during his election campaign, which he subsequently delivered on, a pivot from his earlier skepticism.
As of this writing, one Bitcoin traded at $80,095.82. So, if, from here, it rises the same as Trump's first presidency, it would surge to a whopping $3.13 million.
On the other hand, if it matches gains made during the Biden presidency, it would grow to $162,330.
Image via Shutterstock
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