Former President Donald Trump’s influence on Bitcoin was complex and contradictory. During and after his presidency, Trump made several public statements about Bitcoin and cryptocurrencies in general, which affected the market in multiple ways. Here are some key points about his influence:

1. Negative statements: In July 2019, Trump publicly declared on Twitter that he was “not a fan of Bitcoin and other cryptocurrencies,” calling them “not money,” and considering them tools to promote illegal activities. These statements had a short-lived negative impact on the market, with Bitcoin prices experiencing volatility.

2. Cryptocurrency Regulation: During his presidency, his administration took some steps that affect the regulation of cryptocurrencies. For example, US regulatory bodies such as the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have intensified their efforts to regulate the cryptocurrency market.

3. Unclear Policy: Despite his negative statements, the Trump administration has not taken any tough action against Bitcoin or cryptocurrencies in general. There has been a lack of clarity in policies, which has created an environment of uncertainty among investors.

4. Post-Presidency: Even after leaving office, Trump continued to criticize Bitcoin and other cryptocurrencies, calling them a “scam” that could “explode.” However, Bitcoin continued to rise and reach new highs in the period that followed, suggesting that the impact of his statements had diminished over time.

Overall, Trump's influence on Bitcoin has been limited by his public statements and some regulatory policies, but has not had a lasting, long-term impact on the market.

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