A pro-Donald Trump commentator has faced criticism on Twitter for linking Bitcoin’s (BTC) recent fortunes to the politician’s second stint as American president.
Tuur Demeester, who regularly comments on cryptocurrency and political issues, tweeted that Trump’s White House (WH) presidency in 2024 stopped the fall of BTC. He suggested that rival Republican candidates raised the value of the coin by 516% when he posted this message.
“Trump hit the bottom of the Bitcoin bear market with his re-election campaign. Since then the price has increased by 516%. Coincidence?”
~Tuur Demeester
Trump’s White House Nomination Didn’t Boost Bitcoin’s Growth
His thoughts, however, did not please many who were interested in this post. While some have dismissed the two events as mere coincidence, others have been more brutal in their responses. The stumbling block here was Trump’s late transition to the leading cryptocurrency.
One user, Blackthorn, cheekily criticized Demeester, saying that he too stepped on Lego that day. He ended his tweet by asking if it was a coincidence. Another user, SC, also laughed at the post, asking the author what else happened that day. S.K. concluded his post by reminding Demeester that correlation does not mean causation.
The reaction became heated with the emergence of X users such as Dissolve DC. He wondered if the poster was crazy and reminded him that Mr. Trump hated BTC and implied that he (Trump) switched his support to the coin only to win over Bitcoiners. He also accused Trump of promoting sh**coins in relation to various cryptocurrencies associated with the billionaire politician.
The consensus was that Bitcoin’s rise had nothing to do with Trump’s re-election bid. Various users insisted that the top crypto asset will rise regardless of who becomes president.
Cryptocurrency was a major issue in the 2024 US elections.
Cryptocurrencies and Bitcoin in particular were a major talking point in the just concluded US general elections. The crypto community is divided over which of Republican candidates Donald Trump and his Democratic opponent, Vice President Kamala Harris, represents the most interests in the crypto sector.
While both have reaffirmed their commitment to supporting the sector’s growth, Trump appears to have won over the community. Prominent figures in the field, including Elon Musk and the Winklevoss twins, have supported the former president. Looking at the conversations about cryptocurrencies on Twitter, one could always get the feeling that many believed that the sector would improve under Trump’s watch.
Trump was once an opponent of cryptocurrencies, but has now completely switched to digital assets. He went so far as to launch several crypto projects, although some of the community called them sh**coins. At the time of writing, the controversial politician has declared victory in the 2024 elections.
