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Joe Biden won the 2020 Presidential Election after defeating incumbent Donald Trump. The current president has outlined many priorities and signed many executive orders since taking office, including some that deal with cryptocurrency regulation.
Here’s a look at how some top cryptocurrencies have performed during Biden’s time in office.
What Happened: In 2022, Biden signed an executive order “to establish the first-ever comprehensive federal digital assets strategy for the United States.” The executive order was put in place to establish cryptocurrency regulation.
“An American approach to digital assets is one that encourages innovation but mitigates the risks to customers, investors, and businesses, broader financial stability, and the environment,” the White House said after the order was signed.
Items like the COVID-19 pandemic, rising inflation and an invasion of Ukraine by Russia led to spikes in the price of several of the top cryptocurrencies in early 2022.
The collapse of several cryptocurrency companies and the bankruptcy of FTX would send the prices of major cryptocurrencies down significantly in the later part of 2022.
Related Link: 5 Things You Might Not Know About Joe Biden
Investing $100 in Bitcoin, Ethereum and Dogecoin: Biden was elected to the presidency in November 2020 and was sworn in as the 46th president of the United States on Jan. 20, 2021.
Here is a look at how $100 investments in Bitcoin BTC/USD, Ethereum ETH/USD and Dogecoin DOGE/USD have performed during the time Biden has been the president.
Starting Prices (Jan. 20, 2021):
- Bitcoin: $36,378.33
- Ethereum: $1,405.74
- Dogecoin: $0.0092
Current Price (Mar. 11, 2023)
- Bitcoin: $20,476.89
- Ethereum: $1,463.27
- Dogecoin: $0.06621
Here’s how much the $100 investment would be worth today:
- Bitcoin: $56.29
- Ethereum: $104.09
- Dogecoin: $719.67
The total $300 investment on Jan. 20, 2021 would be worth $880.04 today, representing a return of 193.3% in just over two years time.
Photo: Shutterstock
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Image and article originally from www.benzinga.com. Read the original article here.