President Donald Trump‘s open embrace of Bitcoin BTC/USD — including the launch of a government-backed strategic reserve and his involvement in World Liberty Financial — has yet to yield the gains crypto investors had hoped for.
In fact, Bitcoin’s performance under Trump’s second term has been notably weaker than during the same period under President Biden, or even during Trump’s own first stint in the White House.
Since Trump’s return to office in January 2025, Bitcoin has declined by more than 13%, falling from a peak of roughly $101,000 on Inauguration Day to around $87,000 by late March.
In contrast, during the same stretch of President Joe Biden‘s term, Bitcoin rose approximately 45%, climbing from $36,000 to over $52,000.
Even during Trump’s first 100 days in office back in 2017—when he called Bitcoin a “scam”—the cryptocurrency saw a modest 8% increase, rising from around $890 to $960.
Comparisons to the beginning of Trump’s first term also highlight the recent underperformance.
Back then, Bitcoin gained 26% within the first 52 days.
This year, in the first 53 days of his second term, the asset has slumped 22%.
Also Read: Trump-Backed World Liberty Financial Confirms Dollar Stablecoin Plans With BitGo
Despite Trump’s loud support for crypto, including signing an executive order to create a Strategic Bitcoin Reserve and backing World Liberty Financial’s stablecoin plans, markets appear unconvinced.
Analysts cite a lack of immediate policy follow-through, broader macroeconomic headwinds, and market maturity as reasons for Bitcoin’s muted response.
“The administration’s tariff threats and large-scale government shake-ups have contributed to economic uncertainty, weighing on investor sentiment,” one market observer noted.
Still, long-term expectations remain optimistic.
Analysts at Standard Chartered forecast that Bitcoin could reach $200,000 by the end of 2025, driven by institutional inflows, improving regulatory clarity, and continued global demand.
Yet for now, Trump’s crypto pivot has not translated into immediate gains — a reality that contrasts sharply with the early hopes of industry supporters like Michael Saylor, Brian Armstrong, and the Winklevoss twins, who have aligned themselves closely with the administration.
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