Not long ago, an article was featured online that talked about how much crypto has crashed since Biden entered the White House. While Biden oversaw heavy gains during his first year in office – the price of bitcoin rose to about $68,000 just seven months ago – his second year is turning out to be a real dud.
Biden Is Leading the American Financial System Into a Hole
The article talked about how bitcoin has lost more than 50 percent of its value in recent days. The currency – which is still the number one digital asset by market cap – has shot down to about $28,000 per unit at the time of writing, and while there have been small snippets of hope here and there in that bitcoin has managed to get to $30K or even rise slightly above it in some instances, these rays don’t last, and the skies have been consistently gray.
In addition, many other digital assets like Ethereum and bitcoin cash have lost their ways. The article does point out how some coins have allegedly done better under Biden than they did under Trump, for example, but these are relatively small coins when compared to the names mentioned above. These digital currencies do not hold the ground of assets like bitcoin and Ethereum, and in the long run, it can be said that the digital currency space has suffered hard under this old man’s watch.
Several months ago, Live Bitcoin News published an article condemning Biden’s actions towards bitcoin… and many other things. The true irony of the situation is that this is a person who, in being declared the commander in chief 1.5 years ago, was alleged to be one that would finally put bitcoin and its digital counterparts on the financial map.
In some ways, this has occurred in that Biden initially signed a crypto-based executive order a few months ago calling for agencies throughout the U.S. to examine the risks and benefits of crypto. The order also opened the door to a digital version of the dollar.
All this and more would have probably done wonders for the crypto space and respective prices under normal circumstances, but the executive order was marred by ongoing conflict in eastern Europe and other lasting problems that have seemingly brought prices down even further.
Can America Keep Experiencing This?
And Biden is certainly not helping the situation given that he and his cronies are now sending another $40 billion in aid to Ukraine. While no war is positive, Biden seems incapable of understanding that serving as the President of the United States means you preside over the United States. You should lead your own country, not others, and try to help people at home.
Right now, Americans are dealing with inflation, a staggering economy, and high gas prices, so the idea of sending that much American taxpayer money overseas isn’t going to make things any better for residents or the assets they invest in… That includes bitcoin.