The U.S. presidential elections are just two months away and according to Polymarket data, Donald Trump leads the poll with 53%. Kamala Harris trails behind at 46%, a 7% gap. Cryptocurrency is suddenly on the center stage of the 2024 elections, and the community is heavily invested not only financially but also emotionally as the new U.S. President will set the tone for crypto policies around the world.
Donald Trump Favored by the Crypto Community
Former President Donald Trump is running for President again this year. Trump has changed his tune about the crypto industry and is aware of the significant influence the cryptocurrency community holds in the political landscape.
Trump has advocated for cryptocurrencies since his stint with NFTs in early 2023. He also voiced his opinion at Bitcoin Conference 2024, vouching to make the U.S. the crypto capital of the world. With Trump’s pro-crypto stance, people from the crypto community have also started calling him the “Crypto President.”
Kamala Harris Trying to Catch Up
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Kamala Harris, supported by traditional democratic voters, has taken no stance toward the crypto market, which explains the current position on the poll. For Harris to close that gap of 7%, she needs to capture the attention of the younger generation that is tech-savvy and is heavily invested in digital currency.
Recently, reports of Harris accepting crypto donations for her presidential campaign emerged, showing her growing affection for blockchain-based currency. However, skeptics have raised concerns that her support for crypto is motivated by just gaining votes from the crypto community. This could impact the odds of political betting using cryptocurrencies and may influence Polymarket predictions.
As more people invest in digital currency, the crypto community’s political power grows. Their support becomes crucial for candidates. The upcoming campaigns will be vital for both candidates, and the crypto community’s influence may be a key factor. Polymarket data previously showed Harris overtake Trump for a brief period, but now Trump is back in the lead.
If Trump wins the election this year, many people from the community believe that this could lead to a more favorable regulatory environment and a possibility for fewer restrictions and more innovation in the crypto world, more adoption, and investment in digital assets, and it could be a turning point for digital currency and American politics.
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