Ever since pseudonymous Satoshi Nakamoto published a whitepaper on Bitcoin (CRYPTO: BTC) in 2008, there have been plenty of cryptocurrency skeptics.

President-elect Donald Trump was one of them.

“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 in 2019. He also called out Libra, a virtual currency that Meta Platforms was working on at the time. The Facebook parent company should “seek a new Banking Charter and become subject to all Banking Regulations, just like other Banks,” he insisted.

But during his 2024 U.S. presidential campaign, Trump changed his mind. He suggested a strategic national crypto stockpile for the U.S. Trump also launched his own non-fungible tokens on the Polygon (CRYPTO: MATIC) blockchain and accepted Ethereum (CRYPTO: ETH) as a payment option.

Read Also: Trump Appoints VC David Sacks As White House Crypto Czar: ‘He Will Work On A Legal Framework’

A key milestone for the crypto sector came when Trump spoke at the 2024 Bitcoin Conference in Nashville.

“For too long our government has violated the cardinal rule that every Bitcoiner knows by heart: Never sell your Bitcoin,” Trump said at the event on July 27. “This afternoon I’m laying out my plan to ensure that the United States will be the crypto capital of the planet and Bitcoin superpower of the world and we’ll get it done.”

Investing $1,000 in Bitcoin: Bitcoin holders saw a soaring valuation ever since Trump made that speech.

Bitcoin traded between $66,705.22 to $69,398.51 on July 27, 2024, the date of Trump’s event appearance.

A $1,000 investment at the day’s highest price could have purchased 0.0144 BTC.

Fast-forward to today and Bitcoin trades at $101,478.46, recently passing the $100,000 milestone for the first time.

The $1,000 investment would be worth $1,461.29 today, up 46.1% in less than five months.

The same $1,000 invested in the SPDR S&P 500 ETF Trust, which tracks the S&P 500, would be worth $1,111.21 today. That’s up only 11.1% over the same time period.

Bitcoin quickly passed new all-time highs after Trump won the 2024 presidential election. Over the past month, Bitcoin has traded between $74,480.42 and $103,900.47.

Bitcoin investors are optimistic that Trump’s incoming administration will continue being pro-crypto compared to his predecessor, President Joe Biden.

Now Read:

• EXCLUSIVE: Bitcoin Briefly Tops $100,000, But Where Do Benzinga Readers Predict It Will Finish 2024?

Image: Shutterstock