Bitcoin has skyrocketed, climbing 5.5% and breaking the $60,000 mark, following a dramatic and shocking turn of events involving former U.S. president and 2024 White House hopeful, Donald Trump. This surge from earlier lows of $53,000 came after Trump was injured during an assassination attempt at a Pennsylvania rally.
The incident significantly boosted Trump’s odds of retaking the White House in November, with his chances on the crypto-based Polymarket prediction platform spiking by 10 points to 70%. This uptick reflects increased confidence among supporters and investors, contrasting sharply with President Joe Biden’s Polymarket odds, which stand at 16%.
🔔 #Bitcoin Rises Amid Speculation Trump Shooting Increases Re-Election Odds !
Bitcoin’s price surged after a shooting at a Donald Trump rally in Pennsylvania. Trump, shot in the right ear, is reportedly fine and plans to attend the Republican National Convention. The incident… pic.twitter.com/ubYqBvh1d2
— CryptoGenius (@CryptoGenius419) July 14, 2024
Trump has increasingly become the favored candidate within the bitcoin and crypto community. He has pledged to protect the right to hold bitcoin and has been confirmed as a headline speaker at the Bitcoin 2024 conference later this month. Speaking at a Washington, D.C. event, Trump promised, “I will make sure that the future of bitcoin will be made in the U.S. and not driven overseas. I will support the right to self-custody.”
In recent months, Trump has actively embraced bitcoin and other cryptocurrencies. This shift follows his financial success with a series of crypto-based non-fungible tokens (NFTs), which has positioned him in stark opposition to the Biden administration’s anti-crypto stance. Declaring his support for crypto in late May, Trump has begun accepting campaign donations in bitcoin, ethereum, solana, dogecoin, and shiba inu.
Global markets ramp up the ‘Trump Trade’ after attempted murder. The steepener trade has already worked out recently. US 2s/10s yield spread has risen to -27bps. Dollar edged up as financial markets reopen for the week. Bitcoin rises over $60,000 after shooting at Saturday rally. pic.twitter.com/hMxJQiErzj
— iFinance (@iFinance) July 14, 2024
David Bailey, the organizer of the Bitcoin 2024 conference and CEO of Bitcoin Magazine, highlighted the significance of Trump’s involvement. “The announcement that [Trump] will be addressing the global bitcoin community is recognition of bitcoin’s adoption and progress towards that original vision,” Bailey said. Trump is scheduled to speak for 30 minutes at 2pm CT on the final day of the July 25-27 conference in Nashville, Tennessee. Bailey emphasized, “This will be the most consequential political event in bitcoin’s history and a defining cultural moment for our society.”
Bitcoin surges above $60K after Trump’s defiant response to an assassination attempt.
Speculation rises about Trump’s election chances following rally incident in Pennsylvania.
Pro-crypto Trump claims he was shot in the right ear during political rally $BTC #cryptonews pic.twitter.com/qzBsfISRhB— Manoj Dharra (@manoj_dharra) July 14, 2024
Trump’s crypto charm offensive included a recent fundraiser in Silicon Valley, hosted by investors David Sacks and Chamath Palihapitiya. According to reports, Trump positioned himself as “the crypto president.” Trevor Traina, a tech executive and former Trump ambassador to Austria, confirmed this stance, quoting Trump’s commitment to the cryptocurrency sector.
Major Points
- Bitcoin surged past $60,000 following an assassination attempt on Donald Trump.
- Trump’s Polymarket odds for the 2024 election increased to 70%.
- Trump has become the preferred candidate for the bitcoin and crypto community.
- Trump will speak at the Bitcoin 2024 conference, promising to support bitcoin’s future in the U.S.
- Trump’s campaign has embraced crypto, contrasting with Biden’s anti-crypto stance.
Charles William III – Reprinted with permission of Whatfinger News
