Key Points
- As the 2024 US Presidential Election approaches, Bitcoin’s potential impact has been a focus of discussion.
- MicroStrategy founder Michael Saylor’s poll shows strong support for Trump, while CoinShares reports $407 million in digital asset inflows driven by potential Republican win.
2024 US Presidential Election and Bitcoin
With the 2024 United States Presidential Election just a week away, the race between the top candidates is heating up. The election’s focus on cryptocurrency has garnered increased attention from prominent figures in the crypto industry.
MicroStrategy founder Michael Saylor recently posted a question asking who, between Donald Trump and Kamala Harris, would be more favorable for Bitcoin (BTC). As of October 27th, with 18 hours left in the poll, Trump was leading with 91% of the 61,238 total votes.
Saylor’s Stance and Market Predictions
Saylor’s recent comments have sparked speculation within the crypto community. He initially encouraged Bitcoin holders to trust large financial institutions with their BTC assets but later reversed this stance, advocating for individual and institutional autonomy in managing BTC holdings.
Amidst the political race, Polymarket trends show Trump leading with 66.3% of the votes, while Harris trails at 33.8%. However, national polls from the New York Times and CNN show a much closer race.
CoinShares recently reported a significant increase in digital asset inflows, reaching $407 million, primarily driven by investor optimism surrounding a potential Republican victory.
Support for Harris and Bitcoin’s Performance
Kamala Harris has also received support from notable figures like Chris Larsen, the co-founder and executive chairman of Ripple. However, memecoins inspired by the political candidates show a significant difference. The Trump-inspired memecoin, MAGA TRUMP, surged by 13.4% in the last 24 hours, while the Kamala Harris-themed token [KAMA], saw a 4.6% decline.
In the midst of the election battle, Bitcoin also turned bullish. The king coin soared to $68,395.01, marking a 2.01% rise over the past day according to CoinMarketCap.
