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Donald Trump Surges Ahead on Polymarket as Crypto PAC Funding Goes Into Overdrive

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Donald Trump is back to shilling shitcoins and NFTs again; Kamala Harris is encouraging black men to buy crypto.

No going back from here. We might see a $150k top this cycle, at least.

Meanwhile, as Donald Trump’s odds for a 2024 comeback rise – with Polymarket listing him ahead by 20 points – Bitcoin’s value is climbing, sparking interest in how politics intertwines with digital currency.

Here’s where we believe this election and Bitcoin are heading next.

Donald Trump’s Rising Election Odds and Bitcoin’s Surge

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Polymarket, the decentralized prediction platform, has been instrumental in monitoring Trump’s election odds. As his chances hit 60.2%, Bitcoin surged over 10%, breaking $68,200 for the first time since July.

This unexpected correlation suggests the crypto market might be more attuned to political shifts than acknowledged, raising speculation about Trump’s potential impact on blockchain and crypto policies.

Trump’s transformation from crypto critic to advocate marks a strategic pivot. He’s now the crypto crowd’s go-to candidate for the next election, a stark shift mirrored by his campaign’s embrace of digital currency donations.

This new stance has raked in significant crypto contributions, with a pro-Trump PAC reporting $7.5 million raised, underscoring digital assets’ growing clout in politics.

DISCOVER: New And Upcoming Coinbase Listings To Watch Out For

The Pro-Crypto Candidate

Trump’s election odds rising alongside Bitcoin’s value hints at a wider impact on the crypto market. It underscores how politics can nudge investor sentiment and market behavior.

With the Crypto Fear & Greed Index moving to “greed,” the influence of market psychology on prices has become clear. Moreover, the crypto sector’s hefty donations to Trump showcase the importance of supportive crypto regulations.

We’re happy, however, that Kamla and her camp made a pivot towards crypto and hope other Democrats do the same. If Trump does win, there will be a whole list of reasons why:

  1. Kamala came into an election with three months to campaign- having never run a national election.. she rode off of the astroturf the first month. Now that she’s campaigning, it has been underwhelming.  
  2. Hurricane debacles have been a poorly timed headline for her.
  3. Pro-tech candidate JD Vance has proven capable, and Walz has been a blunder.
  4. Lastly, we’re on the precipice of a major war in the Middle East

For investors and political analysts alike, keeping an eye on Polymarket will provide valuable insights into who wins in November. Only three more weeks until this mess is over; cheers to that!

EXPLORE: Hong Kong Police Busts Deepfake Romance Scam That Stole $46M From Victims

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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital. 99Bitcoins may receive advertising commissions for visits to a suggested operator through our affiliate links, at no added cost to you. All our recommendations follow a thorough review process.

Isaiah McCall is an ultramarathon runner and journalist for 99Bitcoins. He started at USAToday in 2019 and now has a Medium blog following of 30k+ and millions of views. Follow him at @AfroReporter

View all Posts by Isaiah Mccall

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