BTC skyrocketed during Obama's presidency strange coincidence

Hey everyone. Back when Barack Obama took office in early 2009, Bitcoin was just about 0.001 USD. Fast forward to early 2017, and it had shot up to 1000 USD. Since then, both Trump and Biden have only managed to boost the BTC price by 100 times combined. Just imagine if during Obama's campaign he promised to make everyone a billionaire while he was in charge from 2009 to 2017! That would have sounded totally crazy back in 2008.

I'm not really sure why are you attaching Bitcoin with Barack Obama's reign. Obviously, he is the President that time and I don't think there is correlation between him and Bitcoin (if that's what you are trying to say). Maybe if we put it this way, if we really understand what Bitcoin is specially in the beginning, then we could have been self millionaires by now. However, majority of us didn't know about it or those who know it didn't stick with Bitcoin and sold early.

As I said in another thread, if you think this is about Obama or Trump, you are missing the big picture here. Well there is sort of correlation but not causation. I don't quite understand people who see the price going up or down and use that to justify their previous political beliefs.

Joe Biden is still the king of ath as out 109.3 high happened four or five hours before Trump was sworn in. So far Obama Trump Biden Trump did not make it a crime for a USA 🇺🇸 person to hodl btc so they are all okay in my book when it comes to BTC.

I think that you are mistaking a presidents term to be correlated with the Bitcoin price. I think a better correlation/conclusion to make is that under the terms of all presidents, fiat money still continued to devaluate. No matter what party, what president, what nation, fiat money has always devaluated. Give me a president who fixes that problem or adopts a better solution and I'll support them. Even though Trump is a bit of a fool (or at least makes out this way), he supports Bitcoin. We'll see if he adopts it even further than he already has. Still a long way to go.

Yes, it is just correlation but very strong one.  And this makes it very interesting.

That's the mistake in your post. In early 2009 Bitcoin had no price at all. Zero. To my knowledge 1/1000 USD (0,1 cents) was only achieved in 2010. Some few people were mining Bitcoin at this time, but normally with the CPUs of their own computers as difficulty was low, so there isn't even a price if you take into account the hardware cost to mine BTC. Thus there is no correlation at all. And while I think that political decisions can move the price of Bitcoin, I don't think the influence is as big as some believe. Bitcoin is a global asset, and politics change all the time.

Are we saying Obama is Satoshi here because I like the inventive thought process.   Many didnt assume BTC would have a sustained nominal price, I didnt especially think of that myself initially.   Its most normal for any economy to destroy itself  partly because people will pull apart anything that works to gain some personal advantage almost to dam the system if they can but most of us dont see much further then the end of our nose.   Possibly also just for the challenge of any puzzle or new thing and yet I think the majority were wrong and hence the big rise occurring and not seen by most, I think even Al Gore missed this one.

I also don't understand Obama's correlation with Bitcoin... we could use any other political event to make the same meaningless correlation. Just because A happened before B doesn't mean A caused B. If you want to defend this, then you should at least explain your reasons to making this arguments. Just to clarify a little... Bitcoin wasn't even popular when Obama took office; he did so on January 20, 2009 and Bitcoin was created on January 3, 2009. In other words, in the early years, almost no one knew it existed. In fact, it wasn't until 2010 that its commercial price was established at around $0.003 (not $0.001, as you mentioned).... there was no market.

How did Obama affect Bitcoin price? Bitcoin was more of a side character. It was in the dark that political factor barely had a role in it Unlike what we experiencing currently. Bitcoin like stated by satoshi was a project that would either have no volume or large volume And it kicked off and survived hence the large volume and price There's no in between. So yeah an obvious coincidence.