Discussions on the November 2024 elections’ impact on cryptocurrencies have been ongoing for over a year. Presidential candidates expressing pro-crypto positions, especially Donald Trump, have amplified political interest in the sector. The SEC’s unexpected decision to approve the Ethereum ETF has also been associated with this shift.
Trump’s Stance on Crypto
By making favorable statements about cryptocurrencies and opposing CBDCs, Trump has garnered the support he anticipated. President Biden, influenced by Trump’s crypto donations and rhetoric, has softened his stance. A significant portion of young American voters holds cryptocurrency investments. According to a recent Coinbase survey, these investors‘ voting preferences are influenced by candidates’ crypto positions.
As the November 2024 elections approach, competition will intensify in key states where every vote counts. Opposing crypto in these regions may prove detrimental. Therefore, candidates are likely to adopt more pro-crypto stances and make promises in this area.
Assassination Attempt and Bitcoin’s Surge
A recent event of significant importance is the assassination attempt on Trump during a rally in Pennsylvania. Shot in his right ear, Trump, a pro-crypto advocate, was declared to be in good condition, and a bloody photo rapidly circulated on social media.
PredictIt data indicates that Trump’s chances of winning the presidency have increased post-attack. Despite facing legal challenges, he remains a viable candidate. His supporters, previously silenced on social media, rallied behind him as he raised his fist in a historic pose.
Election Implications
– Supporting cryptocurrency can attract young voters.
– Adopting a pro-crypto stance may be crucial in swing states.
– Candidates must consider the significant influence of crypto investors.
The recent attack not only positioned Trump as a resilient figure but also led to a notable increase in Bitcoin prices, surpassing $60,000. President Biden expressed relief that Trump was not more seriously injured and condemned the violence.