If You Invested $1000 in Bitcoin When Trump Said Its Value Is 'Based On Thin Air,' Here's How Much It'd Be Worth When He Said 'Never Sell Your BTC'

Former President Donald Trump's ongoing embrace of cryptocurrencies to build political capital may be cheered by supporters of the space but not too far ago in time, the presidential hopeful explicitly rejected the asset class.

What Happened: In July 2019 when he was the president, Trump declared that Bitcoin BTC/USD was "not money" and based on thin air.

"I am not a fan of Bitcoin and other cryptocurrencies," Trump remarked, criticizing the high volatility of the asset class.

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. Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity….

— Donald J. Trump (@realDonaldTrump) July 12, 2019

When Trump made these statements, one Bitcoin was worth $12,139. So, if you parked $1000 in Bitcoin ignoring the President of America, it would have fetched you 0.082 units of the cryptocurrency.

In 2024, Trump is fighting for a race to the White House, and his policy on cryptocurrency has taken a 360-degree pivot. 

At a recent Bitcoin conference, he made several pro-cryptocurrency commitments, including the establishment of a national Bitcoin stockpile, and a promise to make the U.S. the crypto capital of the world.  

The price of one Bitcoin is now worth $67,000. So, your $1000 investment will be worth $5,494 today, surging more than fivefold in five years.

See Also: Crypto-Focused Fairshake Becomes Biggest Super PAC With Over $200M In Donations, Spends 90% Of The Funds Against Democrats

Why It Matters: Trump's flip has got cryptocurrency bettors gambling heavily in favor of his win later this year. 

According to the decentralized prediction market, Polymarket, the odds of a Trump win were 58% at the time of writing, while bets in favor of Democratic nominee Kamala Harris were 39%.

Whether it’s his reassurances about making the U.S. a crypto-friendly destination, positioning himself as a “crypto president,” or accepting political donations in cryptocurrencies, the positive campaigning has helped build support among advocates of the asset class.

Price Action: At the time of writing, Bitcoin is exchanging hands at $66,841.63, declining 3.98% in the last 24 hours, according to data from Benzinga Pro. 

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