Mike Bloomberg insists he 'would've beaten Donald Trump in November'

Failed Democratic presidential candidate Mike Bloomberg gave up on his White House bid Wednesday after a dismal showing on Super Tuesday, but the former New York City mayor still believes he "would've beaten [President] Donald Trump in November" if only he could have won his party's nomination.

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During his farewell speech, Bloomberg told an audience of supporters, "This really is the best, most creative, most hardworking campaign team ever assembled. And I have to say, there is no doubt in my mind we would've beaten Donald Trump in November."

Bloomberg added, "And you know who else knows that? Donald Trump. He's been scared stiff of us and for good reason."

According to NPR, Bloomberg, a billionaire, ran "the most expensive self-funded campaign ever" in his pursuit of the Oval Office, shelling out more than $500 million just in advertising ahead of Super Tuesday. But his big spending did not pay off — Bloomberg failed to win a single state on Tuesday, only securing U.S. territory American Samoa.

Bloomberg has now endorsed front-runner and former Vice President Joe Biden as the Democratic nominee, and vowed Wednesday to continue to spend big in order to defeat President Trump.

The president reacted to the news of Bloomberg's campaign suspension by tweeting, "Mini Mike Bloomberg just 'quit' the race for President. I could have told him long ago that he didn't have what it takes, and he would have saved himself a billion dollars, the real cost. Now he will pour money into Sleepy Joe's campaign, hoping to save face. It won't work!"