Donald Trump is seen supporting Bitcoin lovers in his election campaign.
In the last 48 hours we have seen, understood and tasted how the colours of electoral faces change. Wait, if you are trying to see these words in the context of India, forget it. We are going to mention the largest economy in the world, on whose signals the global stock market dances. Where 9 of the 10 richest billionaires in the world live. Yes, it is important to mention the United States today because the political situation there has changed rapidly in the last 48 hours.
After the attack on US presidential candidate Donald Trump, his chances of victory have increased significantly. The matter could not be clearer than this. In fact, in recent years there have been attempts to marginalize cryptocurrency in the United States and other countries around the world. Today Donald Trump is trying to win the election with the help of the same cryptocurrency. What we are going to tell you now will make things even clearer for you.
The richest businessman in the world, Elon Musk, also supported Donald Trump. As we told you earlier, this is a glimpse of how political colors change. Today, Elon Musk is the owner of the same Twitter (now renamed X), which had closed Donald Trump’s account. When things came to Elon Musk’s hands, Donald Trump came back to life on X.
There is talk of cryptocurrencies or rather Bitcoin’s relationship with Donald Trump’s election campaign. There is no need to forget that the way Donald Trump is friendly with cryptocurrencies. Similarly, Elon Musk also has a long-standing friendship with cryptocurrencies or rather virtual currency. Moreover, virtual currency has supporters all over the world, including the United States, which wants the future of cryptocurrencies to be bright.
What is special is that in the month of May, Donald Trump received a lot of cryptocurrencies, including Bitcoin, as political donations. Now the most important question that has arisen is whether cryptocurrency supporters are ready to make Donald Trump win. Is Bitcoin about to change the politics and electoral dynamics of the United States? Let’s try to understand this.
Important role of the Bitcoin and Altcoin community
Recently, BitMex co-founder Arthur Hayes argued that the upcoming US presidential election provides an excellent opportunity for crypto lovers to exercise their voting power. Both major political parties are trying to attract undecided voters. Hayes believes that the Bitcoin and Altcoin community can play a decisive role in deciding the outcome of the election. Another question here is whether Donald Trump is a better choice.
In his blog post, Arthur Hayes attempted to explain the importance of Bitcoin and altcoins in global finance and politics. Hayes said that with the advent of digital currencies, not only are the methods of financial transactions changing, but the political dynamics are also changing. One can understand this from the way former President Donald Trump recently seemed to support the crypto industry. He attempted to garner support from potential votes from the growing crypto community.
Understanding Trump’s statements.
Hayes cited Trump’s statements in which it can be clearly seen how he is trying to attract crypto-friendly voters. Recently, Trump was seen standing next to Ross Ulbricht, founder of the Silk Road trading platform, who is serving a prison sentence. Ulbricht was sentenced to life in prison for running an online marketplace that primarily used Bitcoin for transactions. Hayes argues that Trump’s move is aimed at attracting young and politically active cryptocurrencies that could swing the election in his favor.
Elon Musk’s support
According to a report by Bloomberg, Elon Musk has donated to America PAC, a group working for the re-election of Donald Trump. Although the exact information on how much Musk has donated has not been received, experts consider it to be a very large donation. Musk’s support for Trump comes at a time when Trump has left President Joe Biden behind in terms of fundraising and fundraising from corporate donors. Apart from this, Musk’s involvement can further strengthen Trump’s campaign. His American PAC has already spent $15.8 million. Now all eyes are on America PAC, which will be able to publish the list of its donors on July 15.
how much it accelerated
In view of Trump’s rising prospects, a surge is being seen in all virtual currencies including Bitcoin. As of 11:30 am on Monday, the price of Bitcoin was seen at $62,875.28 with an increase of over 4 percent on Coin Desk. While 24 hours ago the price of Bitcoin had surpassed $60 thousand. On the other hand, Ethereum is also seeing a growth of over 4 percent. Solana is seeing an increase of over 4 percent, Dogecoin is seeing an increase of over three and a half percent. According to experts, as Trump’s chances seem to increase in the coming days, Bitcoin and cryptocurrencies will continue to rise.
