Key Insights
- •Bitcoin price fell about 4.3% under Trump, slipping from $101,275 to $96,899.
- •Biden-era BTC gained 78%, rising from $36,104 to $64,432.
- •Donald Trump paused several crypto enforcement actions, signaling policy leniency.
- •BTC has stayed flat for 298 days, despite pro-crypto political support.
Bitcoin price has remained largely flat in the first 298 days of President Trump’s term, even as he positioned himself as a crypto advocate.
Shortly after his 2024 election win, bitcoin “came within a whisker of closing above $100,000,” Reuters noted, as markets bet on a friendlier U.S. stance toward digital assets.
Since his Jan. 20 inauguration, however, bitcoin’s value has slipped modestly – about a 4.3% drop from roughly $101,275 to $96,899, as per CoinMarketCap data.
By contrast, over the first 298 days of President Biden’s term (January–November 2021) the coin surged from about $36,104 to $64,432, roughly a +78% gain.
In short, market expectations around Trump’s “crypto president” branding have so far failed to lift the Bitcoin price.
Bitcoin Price Trends Under Trump and Biden
- •Biden era (first 298 days): Bitcoin price rose from $36,104 to $64,432 (+78%).
- •Trump era (first 298 days): Bitcoin price fell from $101,275 to $96,899 (–4.3%).
This stark contrast highlights the divergence in crypto sentiment. During Mr. Biden’s first year, bitcoin more than doubled, aided by regulatory moves like the approval of bitcoin ETFs.
Under Mr. Trump, however, the price has essentially returned to its starting level. Data from market trackers show Trump’s inauguration price around $101,300 – near historic highs – and the current level just under $97,000. In other words, the Bitcoin price is down only slightly since Day 1.
Crypto Donors and the “Crypto President”
Several high-profile crypto figures threw their support behind Mr. Trump. Gemini exchange co-founders Cameron and Tyler Winklevoss each donated $1 million in bitcoin to Trump’s campaign – far above the $844,600 legal limit.
The campaign promptly refunded the excess, as Bloomberg and Reuters reported. Such donations came amid Mr. Trump’s overtures to the industry.
He told a San Francisco tech fundraiser that he would be the “crypto president,” and he publicly slammed Democratic regulatory proposals. Many in the crypto sector rallied behind Mr. Trump, viewing him as the more pro-blockchain choice.
Nonetheless, the flood of political support has not translated into a market surge. The Winklevoss case is emblematic: even as crypto leaders backed Mr. Trump, the Bitcoin price did not follow.
One Bloomberg source noted that the twins’ donations “exceeded the maximum” allowed, so “the portion above that limit was refunded to the donors.”
In short, major crypto executives sought to influence policy, but Bitcoin price movements have stayed essentially unchanged in response.
Regulatory Pullback on Crypto Enforcement
Since taking office, the Trump administration has relaxed its enforcement stance on Bitcoin and the broader crypto market.
A Reuters review of official memos shows the U.S. Justice Department disbanded its National Cryptocurrency Enforcement Team (NCET) and directed prosecutors to focus only on uses of crypto in serious crimes like terrorism and drug trafficking.
At the same time, the U.S. Securities and Exchange Commission refocused its crypto enforcement unit and paused or dropped a string of high-profile cases it had been pursuing.
Bank regulators have likewise eased some restrictions, allowing banks to engage in selected crypto activities. In short, Trump officials “began swiftly rolling back” the previous administration’s efforts to rein in digital assets.
Key policy changes include:
Justice Department: Disbanded the national crypto enforcement team (NCET) and narrowed the scope of digital-asset investigations.
SEC Enforcement: Halted or withdrew several major cases against crypto exchanges and investors.
These moves signaled to the industry that the new administration would be more permissive. Mr. Trump even signed an executive order early on to support “open blockchain networks,” echoing campaign promises to make the U.S. a “crypto capital.”
Regulators have publicly attributed the shift to a belief that the prior administration used aggressive prosecution as de facto regulation.
Bitcoin Price: Market Reaction and Stagnation
Despite these pro-crypto policies, the Bitcoin price has barely budged. After 298 days of a Trump presidency that promised leniency, bitcoin is trading roughly flat relative to the inauguration price.
In practice, the market seems largely unmoved by the administration’s tone and actions. As one industry analyst observed, bitcoin “is almost completely flat over the last 298 days.”
The crypto community’s expectations of a sustained bull run have not materialized yet.
In short, the data are clear: Bitcoin price under Trump’s first nine-plus months is slightly lower than at Day 1, whereas under Biden’s first term it climbed substantially.
Large donations from crypto insiders and eased enforcement might have been expected to buoy the market, but they have not.
The Bitcoin price today remains roughly where it was when Mr. Trump took office – a sobering outcome for a sector that had hoped for a regulatory windfall.