--- title: Bitcoin Values Could Triple Under Donald Trump description: Predictions by Saxo Bank call for Bitcoin, the unregulated digital currency, to rise in value from around $700 now to over $2,000 in 2017, related to Donald Trump becoming U.S. president. authors: - name: Brad Tuttle role: Senior Editor url: https://money.com/author/brad-tuttle/ bio: Brad Tuttle is a former senior editor at Money with over 10 years’ experience covering a vast number of personal finance topics, including careers, cars, travel, budgeting, investing, insurance, credit cards, consumer psychology, real estate, banking, and shopping and deals. education: Columbia University School of Journalism, MS at_money_since: 2014 articles: 366 covers: - Investing - Banking - Business - Career Advice - Credit - Credit Cards - Economy and Politics - Education - Health and Wellness - Housing - Identity Theft - Insurance - Lifestyle - Loans - Mortgages - Personal Finance - Pets - Professional Services - Retirement - Shopping - Taxes - Technology social: - https://twitter.com/bradrtuttle - https://linkedin.com/in/brad-tuttle-834b225 former_staff: true published: '2016-12-07T17:50:12.000Z' modified: '2024-04-17T04:46:32.000Z' section: Investing tags: - Bitcoin - Currency - Donald Trump - trump word_count: 416 canonical: https://money.com/bitcoin-value-invest-donald-trump/ type: Article source: structured-blocks --- > **Disclosure:** We research all brands listed and may earn a fee from our partners. Research and financial considerations may influence how brands are displayed. Not all brands are included. [Learn more](https://money.com/page/disclaimer/). ![Bitcoin on circuit board.](https://img.money.com/2016/12/161209_bitcointrump.jpg) Bitcoin has been described as a ["scam,"](http://www.debate.org/opinions/is-bitcoin-a-scam) and not a real currency. "Bitcoin isn’t an investment, it’s a slot machine. Or, more accurately, a loaded roulette wheel," [Jeffrey Robinson](http://www.jeffreyrobinson.com/), the author of [*Bitcon: The Naked Truth About Bitcoin*](https://www.amazon.com/BitCon-Naked-Truth-About-Bitcoin-ebook/dp/B00NUIUQ3A/), [said in 2014.](http://fortune.com/2014/10/24/bitcoin-fraud-scam/) The economist [Paul Krugman](http://krugman.blogs.nytimes.com/2013/12/28/bitcoin-is-evil/?_r=0) has taken criticism of bitcoin to the next level, describing the unregulated digital currency as simply "evil." Even bitcoin defenders cannot claim that the cryptocurrency created in 2008 is stable. At the start of 2014, one unit of [bitcoin was worth $770](https://money.com/bitcoin-predictions-2014/), down from an all-time high of around $1,000 in late fall 2013. By October 2014, bitcoin's value had [dropped below $300](https://money.com/why-bitcoin-fans-dont-believe-in-bad-news/). So take all of the above into consideration before making any decisions related to the latest speculation that bitcoin's value is about to surge. As of early December 2016, according to [CoinDesk](http://www.coindesk.com/price/), a unit of bitcoin is trading for around $760, up from $400 at the start of the year. And some are calling for the value of bitcoin to skyrocket further. As [CNBC reported](http://www.cnbc.com/2016/12/07/bitcoin-price-could-rise-to-2000-in-2017-driven-by-trump-policies-us-dollar-inflation-rocketing.html), a new report from the Danish firm [Saxo Bank](https://s3.amazonaws.com/storage.saxobank.com/TradingFloor/2017-Outrageous-Predictions.pdf) states that the expected spending binge by the Trump administration will cause "U.S. growth and inflation to sky rocket, forcing the Federal Reserve to accelerate its hikes and the USD dollar to hit the moon." As a result, Russia, China, and other emerging markets will be more likely to shift away from mainstream banking systems and seek out alternative forms of currency. "Bitcoin as the face of cryptocurrencies benefits from this chaos," Saxo Bank researchers explain. "We could see Bitcoin easily triple over the next year going from the current $700 level to +$2,100." Bear in mind, however, that the title of Saxo Bank's report covering bitcoin value and other issues is "Outrageous Predictions for 2017." As the [(UK) *Telegraph*](http://www.telegraph.co.uk/business/2016/12/07/britain-remains-eu-italys-banks-boom-peso-soars-saxo-banks-outrageous/) wrote, the bank's annual roundup of predictions are "not necessarily events that it thinks will materialise, but ones its economists think should be on the radar, particularly after a year of election results that took financial markets by surprise." A note from Saxo Bank chief economist Steen Jakobsen states that the report is part of "our tradition of provoking conversation on what might surprise or shock the investment return in the year ahead." What's more, in due time, what seem like outlandish predictions now may one day prove to be right on the money. "Some of our past outrageous predictions have turned out to be far less outrageous that at first thought," Jakonsen said. ```json { "@context": "https://schema.org", "@graph": [ { "@type": "BreadcrumbList", "@id": "https://money.com/bitcoin-value-invest-donald-trump/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://money.com" }, { "@type": "ListItem", "position": 2, "name": "Investing", "item": "https://money.com/investing/" }, { "@type": "ListItem", "position": 3, "name": "Bitcoin", "item": "https://money.com/bitcoin/" }, { "@type": "ListItem", "position": 4, "name": "Bitcoin Values Could Triple Under Donald Trump" } ] }, { "@type": "WebSite", "@id": "https://money.com/#website", "url": "https://money.com", "name": "Money", "publisher": { "@id": "https://money.com/#organization" } }, { "@type": "WebPage", "@id": "https://money.com/bitcoin-value-invest-donald-trump/#webpage", "url": "https://money.com/bitcoin-value-invest-donald-trump/", "name": "Bitcoin Values Could Triple Under Donald Trump", "isPartOf": { "@id": "https://money.com/#website" }, "datePublished": "2016-12-07T17:50:12.000Z", "mainEntity": { "@id": "https://money.com/bitcoin-value-invest-donald-trump/" }, "inLanguage": "en-US", "breadcrumb": { "@id": "https://money.com/bitcoin-value-invest-donald-trump/#breadcrumb" }, "dateModified": "2024-04-17T04:46:32.000Z" }, { "@type": "Article", "headline": "Bitcoin Values Could Triple Under Donald Trump", "articleSection": "Investing", "image": [ { "@type": "ImageObject", "url": "https://img.money.com/2016/12/161209_bitcointrump.jpg", "width": 2100, "height": 1400, "caption": "161209_BitcoinTrump" } ], "author": [ { "@type": "Person", "name": "Brad Tuttle", "url": "https://money.com/author/brad-tuttle/", "@id": "https://money.com/author/brad-tuttle/#author", "description": "Brad Tuttle is a former senior editor at Money with over 10 years’ experience covering a vast number of personal finance topics, including careers, cars, travel, budgeting, investing, insurance, credit cards, consumer psychology, real estate, banking, and shopping and deals.\r\n\r\n", "image": "https://img.money.com/2014/01/Brad-Tuttle.png?w=226&h=247&crop=1", "alumniOf": "Columbia University School of Journalism, MS", "sameAs": [ "https://twitter.com/bradrtuttle", "https://linkedin.com/in/brad-tuttle-834b225" ] } ], "publisher": "https://money.com/#organization", "datePublished": "2016-12-07T17:50:12.000Z", "description": "Predictions by Saxo Bank call for Bitcoin, the unregulated digital currency, to rise in value from around $700 now to over $2,000 in 2017, related to Donald Trump becoming U.S. president.", "abstract": "Predictions by Saxo Bank call for Bitcoin, the unregulated digital currency, to rise in value from around $700 now to over $2,000 in 2017, related to Donald Trump becoming U.S. president.", "@id": "https://money.com/bitcoin-value-invest-donald-trump/", "inLanguage": "en-US", "dateModified": "2024-04-17T04:46:32.000Z", "wordCount": 416, "keywords": [ "Bitcoin", "Currency", "Donald Trump", "trump" ], "about": [ { "@type": "Thing", "name": "Investment", "sameAs": [ "https://en.wikipedia.org/wiki/Investment" ] }, { "@type": "Thing", "name": "Bitcoin", "sameAs": [ "https://en.wikipedia.org/wiki/Bitcoin" ] } ] } ] } ```