A vocal pro-Donald Trump commentator has faced crypto Twitter pushback for linking Bitcoin’s (BTC) recent fortunes to the politician’s second stab at the American presidency.
Tuur Demeester, who regularly comments on crypto and political affairs, tweeted that Mr. Trump’s 2024 White House (WH) run had stemmed BTC’s decline. He suggested that the Republican candidates vying had lifted the coin’s value by 516% when he posted.
“Trump nailed the Bitcoin bear market bottom with his reelection campaign. Since then, price is up 516%. Coincidence?”
~Tuur Demeester
Source: Tuur Demeester X post
Trump’s White House run didn’t spur Bitcoin’s rise
His thoughts, however, didn’t go down well with many who engaged with the post. While some reduced the two events to a mere coincidence, others were more brutal in their pushbacks. The sticking point here was Mr. Trump’s late embrace of the premier cryptocurrency.
One user, Blackthorne, took a cheeky dig at Demeester, stating that he stepped on a Lego on that day, too. He ended his tweet by asking if that was a coincidence, too. Another user, S.C., also laughed off the post, asking the author what other things happened on the day. S.C. ended his post by reminding Demeester that correlation doesn’t translate to causation.
The responses got heated with the entry of X users, such as Dissolve DC. He wondered if the poster was mad and reminded him that Mr. Trump hated BTC and alluded that he (Trump) only shifted his support to the coin to win over Bitcoiners. He also accused Mr. Trump of promoting sh**coins in reference to the different crypto linked to the billionaire politician.
The consensus was that Bitcoin’s surge had nothing to do with Mr. Trump’s re-election bid. Different users insisted that the premier crypto asset was poised to grow regardless of who won the presidency.
Crypto 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 was split on who, between Republican candidate Donald Trump and his Democratic opponent, Vice President Kamala Harris, had the best interest of the crypto sector.
While both reiterated their commitment to supporting the sector’s growth, Trump seems to have won the community over. Prominent names in the space, including Elon Musk and the Winklevoss twins, threw their weight behind the former president. Looking at crypto Twitter conversations, you would always feel that many trusted the sector would do better under Trump’s watch.
Once a crypto opponent, Trump has made a complete turn to embrace digital assets. He has gone as far as launching some crypto projects, though sections of the community have labeled them sh**coins. At the time of writing, the controversial politician had claimed victory of the 2024 election.