The globe witnessed Bitcoin (BTC) painted in several colors over the past few months. Despite its slow start to 2024, the king coin picked up steam towards the end of the year. This rally was linked to Donald Trump’s support for the world’s largest cryptocurrency. As Trump took office, the price of BTC was seen surging. This article highlights the potential returns on BTC if a mere $1000 was invested during election day.
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Looking At Bitcoin’s Current Price
Earlier today, Bitcoin went on to record a new all-time high of $109,114.88. The asset was trading at a low of $100,103.96 earlier today. As Trump and the rest of his administration took office, BTC began to surge. At the time of writing, however, the asset was undergoing slight correction. Bitcoin was priced at $102,066.91. The asset is currently 5.7% below its peak.
The asset’s start to 2025 looked in jeopardy in mid-January as the asset declined and could not recover until it fell to about $80,000. But soon enough, Bitcoin recovered from a brief decline below $90,000 and began recovering. The king coin went on to surpass $108,000, it’s previous high, and recorded a new peak.
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Evaluating Returns
The US elections took place back in November. During that day, Bitcoin was priced between $67,000 and $68,000. While several anticipated growth in price, a few acted upon it as well. An investment of $1,000 back in the day would translate to profits of 61.65% today. $1,000 would have turned into $1,616.52 with BTC hitting its all-time high.
At the asset’s current price of $102,305, an investment of $1,000 would have turned into $1,515 with a 51.56% surge. This further highlights how an investment of a bigger sum could have brought in significant gains. With Trump taking over the country, the cryptocurrency community anticipates increased upticks for Bitcoin and other assets.
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