Benzinga – Former President Donald Trump has been known for being vocal about a number of topics and people over the years, often sharing those opinions on social media platforms. One of the many sectors Trump has been outspoken about is the cryptocurrency sector.

Here’s a look back at an old take on Bitcoin (CRYPTO: BTC) from Trump.

What Happened: The price of Bitcoin has soared in 2023, rebounding from a 2022 year that saw a drop in the price due to volatility from the bankruptcies of several cryptocurrency trading platforms.

Bitcoin recently passed the $44,000 level to mark new 52-week highs. The increase in price comes with renewed optimism in the approval of spot Bitcoin ETFs.

While Bitcoin remains down from an all-time high of $68,789.63 set in November 2021, the leading cryptocurrency is still significantly higher than many predicted years ago, including Trump.

Back in 2019, Trump shared his opinion about Bitcoin and cryptocurrency.

“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 on July 11, 2019.

Trump also went on to call out Libra, a virtual currency that Meta Platforms Inc. (NASDAQ:META) was working on at the time.

“If Facebook and other companies want to become a bank, they must seek a new Banking Charter and become subject to all Banking Regulations, just like other Banks.”

Trump said the real currency is the U.S. dollar, which he added would remain the “most dominant currency anywhere in the world.”

While he criticized Bitcoin in 2019, Trump would later use the power of cryptocurrency to launch his own non-fungible token collection. Trump has now launched three NFT collections since December 2022. Many on social media were quick to point out the previous comments against cryptocurrency by the former president at the time.

Trump is among the leading candidates in the 2024 election race, which counts several presidential hopefuls who are supportive of cryptocurrency. Vivek Ramaswamy and Robert F. Kennedy Jr. have both announced they will accept Bitcoin for campaign donations. Ron DeSantis has also been pro-crypto and spoken out against those who are against Bitcoin.

Similar to several of Trump’s other takes, like selling shares of Apple over complaints of the size of the screen, investors who ignored Trump’s opinion could have racked up some profits.

Related Link: EXCLUSIVE: Cathie Wood Says Bitcoin Is Key 2024 Election Issue For Young Voters

Investing $1,000 in Bitcoin: On the day Trump blasted Bitcoin and cryptocurrencies, the leading cryptocurrency traded between $11,158.92 and $12,144.62.

Based on the high of the day, an investor could have purchased 0.0823 BTC at the time of Trump’s tweet.

That $1,000 investment would be worth $3,510.84 today based on a price of $42,659.11 for Bitcoin at the time of writing. This represents a return of 251.1%.

At its peak of nearly $69,000 in November 2021, the investment would have been worth $5,661.33, up 466% from the time of Trump’s tweet.

Read Next: Here’s How Much Donald Trump Made From NFTs, Truth Social And Other Business Ventures

Photos: Shutterstock

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga